LAGOS – The yield on Nigeria’s 5-year bond fell further on Thursday, shedding 25 basis points as offshore funds placed buy orders with banks following a presidential poll in Africa’s biggest economy won by opposition leader Muhammadu Buhari, dealers said.
The 2019 debt, one of the maturities listed on JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM), has fallen more than 110 basis points in the past two days on renewed buying on news of Buhari victory over incumbent Goodluck Jonathan.
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The bond’s yield was quoted at 13.86 percent in early trade, down from 14.11 percent on Wednesday. It stood at 15.03 percent on Tuesday. (REUTERS)
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