The yield on Nigeria’s 5-year bond fell
further on Thursday, shedding 25 basis points as offshore funds placed
buy orders with banks following a presidential poll in Africa’s biggest
economy won by opposition leader Muhammadu Buhari, dealers said.
The 2019 debt, one of the maturities
listed on JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM),
has fallen more than 110 basis points in the past two days on renewed
buying on news of Buhari victory over incumbent Goodluck Jonathan.
The bond’s yield was quoted at 13.86
percent in early trade, down from 14.11 percent on Wednesday. It stood
at 15.03 percent on Tuesday.
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