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FGN Bonds Update: Bearish sentiments as Average Yield Expands by 36bps W-o-W to 7.09%; FGN Bond PMA Held on Wednesday
The FGN Bond secondary market had a bearish run last week as market players took advantage of the first monthly auction for the year that held on Wednesday. Consequently, average yield across the curve expanded by 36bps W-o-W to settle at 7.09% from 6.73% the previous week.
Across tenors, yields on the medium and long term instruments advanced by 42bps and 62bps W-o-W respectively while the short tenor declined by 5bps. The medium and long tenors had the most buying interests with