​FGN bond yields trending up
The DMO held its latest monthly auction of FGN bonds last week, the first for this year, and raised 75bn (US$377m) from the sale of two debt instruments. These were a re-opened issue of 15.54% Feb ‘20s and a new ten-year issue of 12.50% Jan ‘26s. The marginal rate (effective cut-off point) widened by 129bps on the ‘Feb 20s. On the secondary market, the average yield for the liquid bonds we track was 10.82% in December and has widened by 112bps in January.
In today's rapidly changing financial environment, we believe our clients need a financial partner they can rely on to provide clear guidance, progressive thinking and innovative products. Our in-depth and qualitative research covers macroeconomics, fixed income and equities, offering timely market commentary and detailed analyses of the local economy, major sectors listed on the Nigerian Stock Exchange (NSE) and the Federal Government of Nigeria bond market. Our sound recommendations are based on a thorough and objective analysis of the relevant companies within the context of their respective industries, the local market and international peer set. Our research is well recognized and acclaimed for its value and integrity, as we provide existing and prospective investors access to reliable, independent, quality research to aid investment decision-making and strategy development.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.