Nigerian Bonds Yield Climbs to 19.16% over Sell Action
Trading activities on Nigerian government bonds ended on a negative note as inflation data altered investors sentiments.
Traders said the Nigerian bond market was relatively calm, except for bearish activities observed on the long end of the curve.
Specifically , investors trimmed interest in the JUN-38 FGN paper , causing a +156bps increase in its yield curve.
At the end of the trading session, the average yield increased by 6 basis points to settle at 19.16%
Inflation rate direction was altered due to increase in fuel price in Nigeria.
In September, the monetary authority raised the interest rate to 27.25% to combat the nation ugly inflation conditions. #Nigerian Bonds Yield Climbs to 19.16% over Sell Action
