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In the just concluded week, the values of FGN bonds traded at the secondary market further moderated as yields increased for most maturities tracked. Specifically, we saw investors sell-offs at the longer end of the curve given the bearish proceedings in the money market. Particularly, the 15-year, 12.50% FGN MAR 2035 and the 30-year, 12.98% |
In the recently concluded week, DMO successfully sold FGN bonds worth N657.84 billion, including non-competitive allotments at the primary market auction, viz reopening’s: 10-year, 14.55% FGN APR 2029 worth N53.62 billion (+ N1.1 billion non-competitive allotments), 10-year, 14.70% FGN JUN 2033 paper worth N39.86 billion, 15-year, 15.45% FGN JUN 2038 bond worth N146.49 billion and |
In the Fixed Income market, the value of FGN bonds traded on the secondary market fell for most maturities tracked. Specifically, the 10-year 16.29% FGN MAR 2027, the 15-year, 12.50% FGN MAR 2035, and the 30-year, 12.98% FGN MAR 2050 debts gained N0.64, N3.72, and N1.54, respectively; their corresponding yields moderated to 11.84% (from 12.06%), |
In the Fixed Income market, investor sentiment turned bearish, leading to increased selling pressure on FGN bonds, ass investors offered higher yields. Notably, the 10-year, 16.29% FGN MAR 2027, and 20-year, 16.25% FGN APR 2037 bonds lost N3.76 and N0.32, respectively, while their corresponding yields climbed to 12.06% (from 10.91%) and 14.30% (from 14.25%), respectively. |
In the just completed week, the value of FGN bonds moved in varied directions in the secondary market, prompting investors to selectively choose maturities with attractive yields. The borrowing costs for the 10-year, 16.29% FGN MAR 2027, and the 15-year, 12.50% FGN MAR 2035 bonds remained unchanged at 12.53% and 14.81%, respectively, as traders adopted |