Barclays Advises Switch to Nigeria’s Shorter-dated Dollar Bonds Global stocks drop as Trump reignites trade war risk with threat of 50% tax on EU goods Nigerian stock market drops by N201bn
Kayode Tokede with agency report
Barclays is recommending investors shift away from Nigeria’s longer-dated dollar bonds, noting that yields in the mid-section of the curve now
look more attractive. Analysts led by Andreas Kolbe remain overweight Nigerian hardcurrency bonds, but noted the yield curve has lagged the steepening momentum seen in other emerging
markets, where short-dated bonds have rallied more than longer maturities. That leaves room for Nigerian shorter-dated securities to play catch-up, Bloomberg quoted Kolbe to have said, suggesting clients
switch out of the bonds maturing 2049 into 2033 paper. The Z-spread between the 2033 and 2049 issues — the volatility-adjusted yield premium above Treasuries over the life of the bond — has actually
flattened by about 25 basis points year-to-date, Kolbe said. That means it “screens as too flat relative to the front-end,” compared with high-yield emerging-market debt curves. “We hence think value has shifted
away from the long end and into the 8- to 10-year belly of the curve,” Kolbe added. Given the steepness of Nigeria’s Continued on page 5
Judge Temporarily Blocks Trump's Plan to Stop Harvard Enrolling Foreign Students...
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Fagbemi: Tinubu Will Not Falter in Anti-corruption Fight Despite Defections Alex Enumah in Abuja
TIME CEO, Jessica Sibley (left) and President, Dangote Group, Alhaji Aliko Dangote, during the TIME Magazine Award where Dangote was honoured among the 100 most influential leaders shaping the future of philanthropy across the world at the inaugural 2025 TIME100 Philanthropy Dinner held in New York…recently
The Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, yesterday assured Continued on page 5
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L-R: Former Governor of Gombe State, Dr. Ibrahim Dankwambo; former President of the Senate and Chairman, Peoples Democratic Party (PDP), Special Reconciliation and Strategy Committee, Dr. Bukola Saraki; Governor of Enugu State, Dr. Peter Mbah, and former Governor of Bayelsa State, Senator Seriake Dickson, during a meeting with the Enugu State Governor over PDP’s crisis held in Enugu…yesterday
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