ga('send', 'pageview');

FGN Bonds Move in Mixed Directions Across Maturities

By Cowry Asset

In the bond market last week, FGN bonds traded at the OTC segment moved in mixed directions across the maturities : The 10-year 16.39 percent FGN JAN 2022 debt appreciated by N0.06; its corresponding yield fell to 16.02 percent (from 16.03 percent).

However, the 7-year 16.00 percent FGN JUN 2019 debt and the 5-year 14.50 percent FGN JUN 2021 debt depreciated by N0.08 and N0.02 respectively; their corresponding yields rose to 16.56 percent (from 16.50 percent) and 16.29 percent (from 16.27 percent) respectively.

ALSO READ  Sokoto Moves to Revive Moribund Furniture Factory

Elsewhere, FGN Eurobonds traded on the London Stock Exchange appreciated in value across all the maturities amid renewed bargain hunting.

The 5-year, 5.13 percent JUL 12, 2018 bond and the 10-year, 6.38 percent JUL 12, 2023 bond depreciated by $0.08 (yield fell to 3.50 percent) and $0.08 (yield fell to 5.78 percent) respectively.

ALSO READ  Investors Trade N45.7tr T-Bills, N8tr FGN Bonds in 8 Months

This week, we expect bond prices to rally in the OTC market on the back of expected ease in financial system liquidity.

 

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: