S&P Index: Nigeria’s FG Bonds Rally 16.4% YTD

Channels Television  
Updated November 5, 2015

S&PThe Federal Government bonds tracked in the Standard and Poor’s index has rallied 16.4% in naira terms so far in 2015, a new data released by the U.S. based global rating agency has shown.

The report reveals that FGN bonds gained some seven% in US dollar terms in the current year.

In the month of October alone, Nigerian bonds returned more than 5%, beating the stock market by nearly 24 percent in US dollar terms since the new year started.

The S&P report shows Nigerian government bonds has beaten South Africa and Kenyan government bonds in US dollar terms in 2015.

While Nigerian bonds returned seven% positive on the index, South Africa and Kenya bond indices had been negative by 13%.