By Dipo Olowookere
The bond market in Nigeria was bearish on Thursday as investors embarked on selloff, leaving the average yields closing at 15.13 percent, the highest in more than eight months.
It was observed that at the market yesterday, investors became increasingly cautious following developments in the treasury bills market.
The rates at the T-bills market are increasingly becoming very attractive to market players, who are now entering the space to quickly make profit before the rates start receding.
At the bond market yesterday, there were selloffs on the 2-year bond, though there was still slight interest around the mid tenors.
According to Zedcrest Research, their average yields expanded by 0.08 percent with most trades done closer to 15.20 percent from 15.10 percent previously.
“We expect this uptrend to persist, as sentiments remain weak in view of the expected flattening in inflation results which are expected today, coupled with the continued spike in short term T-bill rates,” the Lagos-based investment firm said.
more recommended stories
SEC Modifies Processes of Listing on Nigerian Stock Exchange
By Modupe Gbadeyanka In order to.
Forte Oil to Pay Interim Dividend of N1.15k June 10
By Dipo Olowookere The board of.
NSE Releases Effective Dates of Five New Rules
By Dipo Olowookere The Nigerian Stock.
Wari Takes Financial Services Closer to Customers on WhatsApp
In order to make its customers.
Second 30-Year Bond Sale Records 336% Subscription
By Dipo Olowookere At the May.
FBNQuest Complies With GIPS to Boost Investor Confidence
A subsidiary of FBNQuest Merchant Bank.
Stock Market Gains N408bn as MTN Nigeria Listing Frenzy Persists
By Dipo Olowookere Transactions on the.
Facebook NG_Hub Trains 50,800 SMBs in Digital Skills
By Modupe Gbadeyanka Not less than.