By Cowry Asset
In the just concluded week, OTC bond prices climbed amid boost in liquidity. Specifically, the 20-year, 10 percent FGN JUL 2030 paper, the 10-year, 16.39 percent FGN JAN 2022 debt, the 7-year, 16.00 percent FGN JUN 2019 and the 5-year, 14.50 percent FGN JUL 2021 debt appreciated by N0.66, N0.63, N0.70 and N0.67 respectively; corresponding yields fell to 16.35 percent (from 16.52 percent), 16.26 (from 16.47 percent), 16.21 (from 16.67 percent) and 16.35 percent (from 16.60 percent).
Elsewhere, FGN Eurobonds traded on the London Stock Exchange (LSE) depreciated in value for most of the maturities amid renewed profit taking.
Prices of the 10-year, 6.75 percent JAN 28, 2021, the 10-year, 6.38 percent JUL 12, 2023 fell by $0.16 (yield rose to 4.43 percent from 4.39 percent), $0.21 (yield rose to 5.12 percent from 5.08 percent).
However, prices of the 5-year, 5.13 percent JUL 12, 2018 bonds appreciated by $0.08 (yield fell to 3.22 percent from 3.29 percent) respectively.
This week, we expect bond prices to moderate at the OTC market on the back of expected tightening in the financial system.
more recommended stories
Unilever Nigeria Revenue Drops to N19bn in Q1 2019
By Dipo Olowookere Lagos-based Fast-Moving Consumer.
Nigeria Still Safe to Borrow Additional N7.9trn—FSDH
By Dipo Olowookere Some days ago,.
Nigerian Firm Tops Seeds Index Ranking
A company based in Nigeria known.
FG Picks 13 Banks to Sell First N20bn 30-Year Bond to Investors
By Dipo Olowookere A total of.
Naira Loses 0.05% in I&E to Trade at N360.42/$
By Dipo Olowookere Transactions at the.
Stocks Gain N84bn on Sustained Bargain Hunting
By Dipo Olowookere The equities market.
Signs Your Startup is Ready to Raise Capital
By Adeniyi Ogunfowoke For entrepreneurs, the.
CBN Cuts Treasury Bills Stop Rates at Primary Market
By Dipo Olowookere The Central Bank.