By Cowry Asset
At the bond market in the just-concluded week, the FGN Eurobonds traded on the London Stock Exchange (LSE) depreciated in value across all the maturities amid profit taking.
The 5-year, 5.13 percent JUL 12, 2018 bond and the 10-year, 6.38 percent JUL 12, 2023 bond depreciated by $0.17 (yield rose to 3.53 percent) and $0.96 (yield rose to 5.73 percent) respectively.
But elsewhere, the FGN bonds traded at the OTC segment appreciated for most of the maturities amid buy pressure.
The 20-year, 10.00 percent FGN JULY 2030 debt, the 7-year 16.00 percent FGN JUN 2019 debt and the 5-year 14.50 percent FGN JULY 2021 debt appreciated by N0.24, N0.12 and N0.21 respectively; their corresponding yields fell to 15.94 percent (from 16.00 percent), 16.36 percent (from 16.42 percent) and 16.26 percent (from 16.33 percent) respectively.
This week, we bond prices to tank in the OTC market on the back of expected strain in financial system liquidity.
Dipo Olowookere 
Adedapo Adesanya