Nigeria’s 5-year bond yield falls as U.S. investor buys bond -dealer

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LAGOSNigeria’ 5-year bond yield fell 33 basis points on Tuesday after a U.S. investor bought government debt, with uncertainty surrounding presidential elections in Africa’s biggest economy easing, a dealer at a commercial bank told Reuters.

The yield on the 2019 bond initially fell 2 basis point in early trades on Tuesday, the dealer said, adding that the debt fell further on large buying the offshore fund.

The 5-year paper traded at 15.03 percent from 15.36 percent the previous day with a total 8.6 billion naira ($43 million) traded, the dealer said.

($1 = 199.0000 naira) (Reporting by Chijioke Ohuocha; Editing by James Macharia)(Reuters)[pro_ad_display_adzone id=”10″]