By Cowry Asset
In the just concluded week, the value of the FGN Eurobonds traded at the international capital market tanked for all maturities tracked amid decline in global crude oil prices and Nigeria’s external reserves: the 10-year, 6.75% JAN 28, 2021 bond; the 10-year, 6.38% JUL 12, 2023 note; and the 15-year, 6.50% NOV 28, 2027 paper fell by $0.61, $1.32 and $1.85 respectively, with their corresponding yields rising to 6.11 percent from 5.81 percent, 7.53 percent from 7.18 percent and 8.60 percent from 8.28 percent respectively.
On the local scene, the value of FGN bonds traded at the over-the-counter (OTC) segment moved in different directions across maturities tracked: the 10-year, 16.39% FGN JAN 2022 debt and the 7-year, 16.00% FGN JUN 2019 paper gained N0.38 and N0.06 respectively, while their corresponding yields fell to 14.80 percent from 14.95 percent and 13.85 percent from 14.02 percent respectively.
However, the 20-year, 10% FGN JULY 2030 debt and the 5-year, 14.50% FGN JUL 2021 note lost N0.49 and N0.02; with their corresponding yields rising to 15.75 percent from 15.62 percent and 15.44 percent from 15.42 percent.
In the new week, against the backdrop of increased financial system liquidity, we expect higher bond prices at the OTC bonds market amid bargain hunting opportunities.
more recommended stories
BUA Cement to Expand Market Share With New Factory
By Dipo Olowookere Chairman of BUA.
FG Pays N609bn Interest to T-Bills, Bond Investors
By Dipo Olowookere At least, the.
NSIA Posts 18.5% Shortfall in Income
By Adedapo Adesanya The Nigeria Sovereign.
Nigerian Breweries, 26 Others Lead Losers’ Chart on NSE
By Dipo Olowookere Sustained profit-taking at.
CSCS, Friesland, Nipco Lift Market by 1.15%
By Adedapo Adesanya The NASD Over-the-Counter.
Naira Remains Stable Across Major Market Segments
By Adedapo Adesanya It was a.
Oil Prices Drop Amid Weak Demand Outlook
By Adedapo Adesanya Oil prices fell.
Apapa Customs Generates N227.3bn Revenue in Six
By Adedapo Adesanya The Apapa Customs.