Local Demand Rises In Bond Market As Yield Falls
The Federal Government of Nigeria bond market has seen a renewed interest by investors after weeks of decrease in performance.
The week’s activities focused on the auction bonds and some benchmark bonds across 12 tenors.
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The tenors range from January 27, 2022: April 27, 2023: March 14, 2024: March 23, 2025: January 22, 2026: March 17, 2027: February 23, 2028, April 26, 2029: July 18, 2034: March 18, 2036: April 18, 2037 and April 26, 2049.
FGN bonds for 2034 settled around 9.85 per cent while the 2049 saw high and lows of 9.95 per cent and 9.88 per cent respectively.
The data also showed that 2050 bonds were largely bidded but there are very few offers available to match the trade on Monday.
The few number of transactions completed settled around 9.90 per cent.
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The data revealed that the yield compressed by an average of 14 basis points across the yields curve.
