Yields on Nigeria's benchmark 20-year bond rose 55 basis points to 12.7 percent in early Wednesday trade.
Bond yields rise after apex bank rate hike - traders
Bond yields rose on average above 40 basis points across maturities
This comes after the central bank unexpectedly tightened monetary policy to curb inflation after cutting the rate only four months ago, traders said.
Bond yields rose on average above 40 basis points across maturities, traders said.
They added that the central bank was withdrawing liquidity from the banking system to enforce a new cash reserve rules and also selling treasury bills.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Parents put 3-month-old baby up for adoption so they can focus on work
Tinubu assures of more policies for nation’s industrialisation
Pelumi Nubi’s London-to-Lagos journey and West Africa’s border realities
Kano govt clears the air on alleged stray bullet incident involving journalist
Kebbi Gov won't hesitate to sign death warrant of convicted bandits' informants
Blackout hits Tanzania as Cyclone Hidaya makes landfall, Kenya braces itself
Popular footballer arrested over robbery that left 1 dead as police dismantle gang
When fire started on a boat, the captain was first to escape — 34 passengers died
Some Nigerians in public, private organisations using fake certificates - FG
ADVERTISEMENT