Yield on Nigerian Government Bonds Slide to 20.33%
The average yield on Nigerian government bonds declined slightly in the secondary market to 20.33%, traders said in separate notes. The yield contracted as local investors, including pension fund administrators and banks ramped up assets amidst uncertainties.
Inflation outlook is mixed given the statistics office plan to rebase the consumer price index, and gross domestic products. The secondary market for FGN bonds maintained positive momentum, with the average yield edging down by 0.01% to close at 20.33%.
The market witnessed particular interest in the Feb 2031, May 2033, and Jan 2035 maturities. However, trading activity was constrained by widening bid-ask spreads. Across the benchmark curve, the average yield decreased at the short (-7bps) and long (-3bps) ends, Cordros Capital Limited said in a note.
The investment firm said the decline in yields were driven by interest in the JAN-2026 (-43bps) and JUN-2053 (-23bps) bonds, respectively, while it closed flat at the mid segment. #Yield on Nigerian Government Bonds Slide to 20.33% Zenith Bank Hits 52-Week High in Fresh Rally Ahead of Earnings
