Nigerian Bonds Yield Climbs to 19.16% over Sell Action

Trading activities on Nigerian government bonds ended on a negative note as inflation data altered investors sentiments.

Traders said the Nigerian bond market was relatively calm, except for bearish activities observed on the long end of the curve.

Specifically , investors trimmed interest in the JUN-38 FGN paper , causing a +156bps increase in its yield curve.

At the end of the trading session, the average yield increased by 6 basis points to settle at 19.16%

Inflation rate direction was altered due to increase in fuel price in Nigeria.

In September, the monetary authority raised the interest rate to 27.25% to combat the nation ugly inflation conditions. #Nigerian Bonds Yield Climbs to 19.16% over Sell Action

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