Yields of Nigerian government bonds halted their bullish trend Tuesday ahead of the Central Bank of Nigeria (CBN) treasury bills (T-Bills) auction scheduled for Wednesday, July 2.
Average yields on Nigeria’s mid and long-term bond tenors rose on Tuesday by 1 basis point and 3 basis points to 14.21 percent and 14.47 percent respectively, while Nigeria’s benchmark 10-year bond yield rose by 13 basis points to 14.38 percent.
The Nigerian bond market commenced the second half of the year on a positive note as sustained investor appetite for no-risk assets plunged yields on Nigerian government bonds to their weakest level in three months.
OLUWASEGUN OLAKOYENIKAN
