Nigeria’s bond yield drops by 13.9% as funds buy debt
The yield on Nigeria’s most liquid bond of 10 years dropped by 13.9 percent or 40 basis point on Thursday.
Reuters can report that due to the uncertainties surrounding the just concluded presidential elections, foreign investors can now breathe air of relief.
Acting as the most traded on the exchange floor, Yields on the benchmark 2028 paper, have been falling, with investors locking in attractive rates.
The bond fell to 14.3 percent in the previous trading day, which appears to be its lowest recorded in six months of trading on the exchange floor.
Pulling away from 14.5 percent the day before and 14.75 percent the day before the presidential elections.
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