FGN Bond Yield Rises to 18.75% Ahead of Inflation
The average yield on Federal Government of Nigeria (FGN) bonds rose in the secondary market as fixed interest securities investors reduced their portfolio holdings. Consequently, average yields increased by 0.02% to 18.75%.
Traders stated in their respective market updates that selloffs skewed to the mid segment (+6bps) of the curve ahead of expected surge in inflation rate for May, 2024.
According to fixed income traders, FEB-31 FGN Bonds experience strong sell pressures which dragged its associated yield upward by +12bps. The same experience was seen FEB-34 FGN bonds, causing its yield to inch higher by +12bps.
Also, investors also trimmed interest MAR-2025 FGN bonds, pushing its yield upward by +6bps but remained unchanged in the long end. TEXEM UK Avails Nigerians of Strategic Leadership Opportunities at Manchester’s Meeting
