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MarketForces Finance
Nigeria Eurobonds Yield Climbs as Inflation Shifts Sentiment Nigeria’s Eurobond prices declined in the international market as foreign portfolio investors and other holders offloaded…
Investors’ whetted appetites dragged the average yield on Nigerian Treasury bills down by 15 basis points, according to a market update released by Afrinvest Securities Limited.
The Nigerian government bondholders maintained hold on the naira assets, keeping the benchmark yield steadied. The average yield remained unchanged at 15.73% as the market shifted to a cautious mood.
Nigerian deposit money banks with exposure to foreign loans are expected to settle $1.7 billion Eurobonds that will expire in 2026, according to a non-rating commentary note released by Fitch.
The Central Bank of Nigeria (CBN) has made another foreign exchange market intervention this week to address the ongoing depreciation of the naira.
In the secondary market for Nigerian government bonds, trading activity was mixed as investors evaluated their portfolios against targets.
The naira declined against the US dollar at the official window on Thursday, marking the seventh consecutive session of depreciation in the local currency.
The U.S. dollar weakened against other major currencies amid geopolitical concerns and trade uncertainties, fuelling negative sentiment.
NGX Drops as Investors Dump Shares in Big Banks The Nigerian Exchange (NGX) All-Share Index…