FGN Bond Prices Move Mixed Across Maturities

June 12, 2017
FGN Bond Prices Move Mixed Across Maturities

FGN Bond Prices Move Mixed Across Maturities

By Cowry Asset

In the bond market, FGN bonds traded at the OTC segment moved in mixed directions: The 20-year, 10.00% FGN JULY 2030 debt and the 10-year 16.39% FGN JAN 2022 bond shed N0.06 and N0.03 respectively; their corresponding yields rose to 16.09% (from 16.07%) and 16.19% respectively.

However, the 7-year 16.00% FGN JUN 2019 debt gained N0.05 and N0.06 respectively; their corresponding yields fell to 16.43% (from 16.45%) and 16.43% respectively.

Elsewhere, FGN Eurobonds traded on the London Stock Exchange depreciated in value across most of the maturities amid profit taking. The 5-year, 5.13% JUL 12, 2018 bond and the 10-year, 6.38% JUL 12, 2023 bond appreciated by USD0.03 (yield rose to 3.42%) and USD0.02 (yield rose to 5.54%) respectively.

This week, we anticipate stability in bond prices in the OTC market on the back of expected boost in financial system liquidity

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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