Nigerian Eurobonds Rally In February
In the Sub-Saharan African Eurobond market, yields also fell by 27bps to an average of 8.4 percent, which means Nigeria outperformed the region.
Nigeria’s Eurobond market closed the month of February in positive territory, signalling sustained foreign investor confidence.
According to data from the Debt Management Office (DMO), the average yield on Nigeria’s Eurobonds closed at 8.80 per cent, 41 basis points down from 9.21 per cent at the beginning of February, a signal of strong investor appetite.
In the Sub-Saharan African Eurobond market, yields also fell by 27bps to an average of 8.4 per cent, which means Nigeria outperformed the region.
This monthly gain occurred despite seeing a few sell-offs last week, which led to a slight increase to 8.80 per cent from 8.79 per cent the previous week.
These developments contributed to cautious trading in emerging market assets, including Nigerian Eurobonds.
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