By Cowry Asset, Modupe Gbadeyanka
At the Over-the-Counter (OTC) market last week, prices of FGN bonds appreciated for shorter maturities.
Specifically, the 5-year 14.50 percent FGN JUL 2021 paper increased by N0.31, while the 10-year 16.39 percent FGN JAN 2022 decreased by N0.37.
Corresponding yields for 5-year 14.50 percent FGN JUL 2021 fell to 14.77 percent (from 14.88 percent) while that of 10-year, 16.39 percent FGN JAN 2022 increased to 14.89 percent (from 14.77 percent).
Business Post reports that a total of 7,279 units of Federal Government Bonds valued at N7.139 billion were traded this week in 12 deals, compared with a total of 1,041 units valued at N1.040 million transacted last week in 10 deals.
Elsewhere, FGN Eurobonds closed flat on the London Stock Exchange for all maturities.
This week, we anticipate likely bargain hunting on the back of expected improvement in financial system liquidity.
Additional information from Business Post
