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    MarketForces Africa » MarketForces News » FGN Bonds Yield Slide 5bps to 15.5%

    FGN Bonds Yield Slide 5bps to 15.5%

    Julius AlagbeBy Julius AlagbeFebruary 13, 2024 News No Comments1 Min Read
    FGN Bonds Yield Slide 5bps to 15.5%
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    FGN Bonds Yield Slide 5bps to 15.5%

    Nigerian local bond market recorded increased demand which pushed the yield curve. In the secondary market for FGN Bonds, trading activity was in a bearish mode as the average yield increased by 5 basis points to 15.54%.

    This was a result of a yield expansion of 1.25% in the JUN-33 FGN paper.  In Nigeria’s sovereign Eurobonds market, there was a negative level of activity. Sell sentiment was evident across the yield curve, leading to an increase in the average yield by 0.01% to 9.79%.  #FGN Bonds Yield Slide 5bps to 15.5%#

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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