Yield on Nigeria’s 5-year bond sheds 25 bps after presidential vote

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LAGOS – yield on Nigeria’s 5-year bond fell further on , shedding 25 basis points as offshore funds placed buy orders with banks following a presidential poll Africa’s biggest economy won by leader Muhammadu Buhari, dealers said.

2019 debt, of maturities listed on JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM), has fallen 110 basis points the past days on renewed buying on news of Buhari over incumbent Goodluck Jonathan.
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The bond’s yield quoted at 13.86 percent early trade, down 14.11 percent on Wednesday. It stood at 15.03 percent on Tuesday. (REUTERS)

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