FGN Bond Yields Rise for Most Maturities Tracked amid Sustained Bullish Trend…

Date:

In the just concluded week, sentiment
remained bullish at the secondary market as
the values of FGN bonds traded increased and
yields contracted for most maturities tracked.
The sustained demand for government- backed securities further pushed the yields
downward.

Thank you for reading this post, don't forget to subscribe!

Specifically, the 10-year 16.29% FGN MAR 2027, the 15-year 12.50% FGN MAR 2035, and the 20-year 16.25% FGN APR 2037 debts rose by N0.36, N0.61, and N0.42, respectively; their corresponding
yields contracted to 12.93% (from 13.05%),
14.68% (from 14.80%), and 15.73% (from 15.81%), respectively.

However, the yield on the 30-year 12.98% FGN MAR 2050 stayed unchanged at 15.20%.

Elsewhere, the value of FGN Eurobonds traded on the international capital market depreciated for all maturities tracked due to renewed bearish activity.

Specifically, the 10-year 6.38% JUL 12 2023, the 20-year 7.69% FEB 23 2038, and the 30-year 7.62% NOV 28 2047 lost USD 0.19, USD 0.71, and USD 0.46, while their corresponding yields expanded to 12.46% (from 11.55%), 12.27% (from 12.13%), and 11.89% (from 11.81%), respectively.

In the new week, we expect local OTC bond prices to moderate (and yields to increase) as prospective investors demand higher rates in tandem with rates in the primary market…

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

Share post:

Subscribe

Popular

More like this
Related

“Two broke people dating should be a crime” – Cynthia Morgan

March 28, 2024. Azonuchechi Chukwu. Nigerian singer, Cynthia Morgan has explained...

Positive Outlook for Nigeria as Interest-Rate Increases Spark Investor Interest

Nigeria Leads Emerging-Market Rebound Amidst Policy ReformsAs the first...

“West Africa’s Cocoa Crisis: Chocolate Prices Soar Amidst Devastation”

Janet Gyamfi, a 52-year-old cocoa farmer from western Ghana,...

Nigeria’s New Mining Licensing Strategy: A Shift Towards Local Processing

Nigeria is shifting its mining licensing process to prioritize...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading