bonds

Foreign Investors Bought Less Bonds In 2019, Says DMO

January 17, 2020 5:11 am

Foreign investors cut their participation in Nigerian government bond auctions last year, buying just 4.39 per cent of all bonds issued compared with the previous year when they bought 10.99 per cent, a debt office presentation showed.

The debt office said local fund managers bought most of the bonds in 2019, accounting for more than a third of total demand.

In 2017, foreigners bought 11.7 per cent of Nigerian government bonds, Reuters quoted the debt office to have said in a presentation to traders.

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Foreign investors reduced their participation in Nigerian …

Bonds Market Sell-Off Halts After OMO Restriction

November 4, 2019 3:45 am

Following the Central Bank of Nigeria’s (CBN) recent restriction of individuals, local corporates and non-bank financial institutions from participating in the primary and secondary markets for open market operations (OMO) securities, there was a strong bullish sentiment in the bonds market last week.

As such, the preceding week’s bearish performance came to a halt with average yield in the domestic market trending lower by 113 basis points (bps) to close at 12.87 per cent.

According to a report by Afrinvest, at the beginning of last week, average yield slumped 20bps. This was sustained on Tuesday and Wednesday as average yield …