Nigerian Bonds Yields Rises for Most Maturities Tracked…

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In the just concluded week, the value of FGN bonds moderated for all maturities tracked.

Specifically, the 10-year 16.29% FGN MAR 2027, the 15-year 12.50% FGN MAR 2035 bond, and the 20-year 16.25% FGN MAR 2037 bond lost N0.03, N3.00, and N1.61 respectively; their corresponding yields rose to 13.048% (from 13.047%), 13.68% (from 13.16%), and 13.68% (from 13.46%) respectively amid renewed sell pressure.

On the other hand, the 30-year 12.98% FGN
MAR 2050 instrument stayed unchanged at N95.2
while its yield closed at 13.65%.

On sustained demand pressure, the value of FGN Eurobonds traded in the international capital market increased for all maturities tracked; the 10-year 16.29% FGN MAR 2027, the 15-year 12.50% FGN MAR 2035 bond, and the 20-year 16.25% FGN MAR 2037 bond gained USD1.15, USD3.89, and USD2.88 respectively; their corresponding yields fell to 9.51% (from 10.94%), 12.54% (from 13.35%), and 12.38% (from 12.95%)

I’m the new week, we expect to see increased bearish activity in the local FGN bonds space as FGN Eurobonds yields appear to be relatively high…