Nigeria Eurobonds average yield has experienced a drop of 12 basis point to 9.85%.
The yield dropped by 17 basis points, 14 basis points, 15 basis points and 12 basis point respectively.
The reduction is due to increase buying interest which caused quoted prices of the country’s US dollar papers to surge in the international capital market
Federal Government of Nigeria (FGN) Bonds was subdued in the local market with investors exiting positions in the MAR-25 and JAN-26 FGN Bonds instruments.
“The selloffs moves caused yields to decrease by 4 basis points and 2 basis points, respectively. Despite these movements, the average secondary market yield held steady at 18.75% compared to the previous close,” traders stated.
“U.S. bond yields continued to fall as investors became more optimistic that the Federal Reserve will cut interest rates later this year. The yield on the 2-year US Treasury was 4.68%, down 2.2 basis points.”
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