FG To Raise 110 Billion Naira In Bonds This December
If you an investor looking to buy into government securities, you have the final chance do so for the year 2017.
The Federal Government, through the Debt Management Office, is scheduled to hold the last bond auction for the year on Wednesday, December 13, 2017.
The amount on offer is expected to be within the range of 90 billion naira and 110 billion naira.
There are two instruments which are both re-opening. They include the five-year and 10-year bond.
Also Read: How To Invest In Bonds
The Treasury bonds market has been declining since the last auction held on the November 22, as the average bond yield declined by 0.25% to close at 14.70% on December 7, 2017.
However, investors’ appetite towards the FGN June-2019 and FGN October- 2019 instruments continued to rise, as they were the only instruments to record yield advancements of 0.20% and 0.04%, respectively.
During the same period, the National Bureau of Statistics released the third quarter 2017 Gross Domestic Product result, which showed improved economic growth of 1.40%, driven by increase in crude oil price and production.
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