FGN bond prices traded at the over-the-counter, OTC segment, last week, surged for most of the maturities tracked following bargain hunting activity.
The 10-year 16.39 percent FGN JAN 2022 debt, the 7-year 16.00 percent FGN JUN 2019 debt and the 5-year, 14.50 percent FGN JUL 2021 debt appreciated in value by N0.01, N0.02 and N0.17 respectively; their corresponding yields fell to 13.09 percent (from 13.10 percent), 13.83 percent (from 13.87 percent) and 13.32 percent (from 13.39 percent).
However, the 20-year, 10 percent FGN JULY 2030 debt depreciated in value by N0.10; its corresponding yield rose to 13.40 percent (from 13.38 percent).
Meanwhile, FGN Eurobonds traded on the London Stock Exchange (LSE) depreciated in value for all maturities amid sell pressure.
The 10-year, 6.75 percent JAN 28, 2021, the 5-year, 5.13 percent JUL 12, 2018 and the 10-year, 6.38 percent JUL 12, 2023 decreased by $0.19 (yield rose to 4.39 percent from 4.34 percent), $0.17 (yield rose to 3.63 percent from 3.32 percent) and $0.37 (yield rose to 5.04 percent from 4.97 percent) respectively.
