The Over The Counter, OTC, bond prices appreciated last week amid sustained bargain hunting activities. Specifically, the 20-year, 10% FGN JUL 2030 paper, the 10-year, 16.39% FGN JAN 2022 debt, the 7-year, 16.00% FGN JUN 2019 and the 5-year, 14.50% FGN JUL 2021 debt appreciated by N0.74, N3.34, N0.53 and N2.01 respectively.
Corresponding yields dropped to 15.02% (from 15.19%), 14.76% (from 15.83%), 14.66% (from 15.03%) and 14.56% (from 15.28%).
Elsewhere, FGN Eurobonds traded on the London Stock Exchange appreciated in value for most of the maturities amid sustained bargain hunting activities.
Prices of the 10-year, 6.38% JUL 12, 2023 and the 5-year, 5.13% JUL 12, 2018 bonds appreciated by USD0.18 (yield fell to 5.38% from 5.42%) and USD0.03 (yield fell to 3.48% from 3.55%).
However, the 10-year, 6.75% JAN 28, 2021 bond price depreciated by USD0.07 as corresponding yield rose to 4.67% from 4.66%.
