COUNTRY •
NIGERIA
Last Update: 23 Mar 2023 18:15 GMT+0
The Nigeria 10Y Government Bond has a 14.174% yield.
10 Years vs 2 Years bond spread is 399.7 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 18.00% (last modification in March 2023).
The Nigeria credit rating is B-, according to Standard & Poor's agency.
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Residual Maturity |
Yield | ZC Price | Last Change |
||||||
---|---|---|---|---|---|---|---|---|---|
Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
2 years | 10.177% | +336.6 bp | -196.0 bp | 82.38 | -6.01 % | +3.60 % | 23 Mar | ||
3 years | 11.994% | +246.6 bp | n.a. | 71.19 | -6.46 % | n.a. | 23 Mar | ||
4 years | 12.477% | +97.3 bp | -72.3 bp | 62.48 | -3.42 % | +2.59 % | 23 Mar | ||
5 years | 13.999% | +90.6 bp | +92.0 bp | 51.94 | -3.90 % | -3.97 % | 23 Mar | ||
7 years | 14.101% | +25.2 bp | +146.4 bp | 39.72 | -1.54 % | -8.63 % | 23 Mar | ||
10 years | 14.174% | +13.0 bp | +136.5 bp | 26.57 | -1.12 % | -11.32 % | 23 Mar | ||
20 years | 14.834% | -94.6 bp | +39.1 bp | 6.29 | +17.79 % | -6.54 % | 23 Mar | ||
30 years | 15.413% | -45.4 bp | n.a. | 1.36 | +12.40 % | n.a. | 23 Mar |
Last Update: 23 Mar 2023 18:15 GMT+0
Nigeria Yield Curve Analysis
Normally, longer-duration interest rates are higher than short-duration. So, the yield curve normally slopes upward as duration increases.
For this reason, the spread (i.e. the yield difference) between a longer and a shorter bond should be positive.
If not, the yield curve can be flat or inverted.
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
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Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (18.00%) |
|||
---|---|---|---|---|---|---|
2 years | 5 years | 10 years | ||||
30 years | 15.413% | -258.7 bp | ||||
10 years | 14.174% | -382.6 bp | ||||
5 years | 13.999% | -400.1 bp | ||||
2 years | 10.177% | -782.3 bp |
Focusing on 2 years Government Bond:
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5Y vs 2Y | 382.2 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
10Y vs 2Y | 399.7 bp | Normal Convexity in Long-Term vs Short-Term Maturities |
Readings that may interest you
Nigeria Credit Ratings
A credit rating is an assessment of the creditworthiness of a borrower (in general terms or with respect to a particular debt or financial obligation).
For a deeper analysis of credit ratings, click here
Nigeria Credit Ratings History
Rating Agency | Rating | Outlook |
---|---|---|
Standard & Poor's |
B-
|
negative |
Moody's Investors Service |
Caa1
|
- |
Fitch Ratings |
B-
|
- |
DBRS |
-
|
- |
Nigeria Interest Rates
A bank rate is the interest rate at which a nation's central bank lends money to domestic banks, often in the form of very short-term loans.
Interest Rates | Value | |
---|---|---|
Central Bank Rate | 18.00% |
Nigeria 10Y Bond Yield Spread
The Nigeria 10Y Government Bond has a 14.174% yield. Click on Spread value for the historical serie.
A positive spread, marked by
, means that the 10Y Bond Yield is higher than the corresponding foreign bond. Instead, a negative spread is marked by a green circle.
Click on the values in "Current Spread" column, for the historical series of the spread.
Click on the "Compare" button, for a report with the full comparison between the two countries, with all the available data.
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Nigeria 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
---|---|---|---|---|---|
Japan 10Y | 1387.5 bp | +33.1 bp | +130.1 bp | Compare | |
Germany 10Y | 1199.5 bp | +41.8 bp | +121.6 bp | Compare | |
France 10Y | 1146.7 bp | +36.5 bp | +125.8 bp | Compare | |
Canada 10Y | 1138.8 bp | +70.5 bp | +165.9 bp | Compare | |
China 10Y | 1128.8 bp | +18.5 bp | +117.2 bp | Compare | |
Spain 10Y | 1094.4 bp | +41.0 bp | +131.6 bp | Compare | |
Australia 10Y | 1088.5 bp | +72.6 bp | +200.9 bp | Compare | |
United Kingdom 10Y | 1079.1 bp | +33.0 bp | +179.4 bp | Compare | |
United States 10Y | 1074.4 bp | +58.6 bp | +163.0 bp | Compare | |
Italy 10Y | 1012.5 bp | +46.8 bp | +164.8 bp | Compare | |
India 10Y | 682.9 bp | +17.6 bp | +141.3 bp | Compare | |
Russia 10Y | 303.9 bp | -2.5 bp | +93.0 bp | Compare | |
Brazil 10Y | 110.1 bp | +41.8 bp | +1.5 bp | Compare |
Nigeria Government Bonds Prices
Price Simulation: bonds with a face value of 100, with different coupon rates. The highlighted column refers to the zero coupon bond.
Click on
for a forecast of the yield.
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Residual Maturity |
Yield | Bond Price - with different Coupon Rates | Fx | ||||||
---|---|---|---|---|---|---|---|---|---|
0% | 1% | 3% | 5% | 7% | 9% | ||||
30 years | 15.413% | 1.36 | 7.76 | 20.56 | 33.36 | 46.16 | 58.96 | ||
20 years | 14.834% | 6.29 | 12.61 | 25.24 | 37.88 | 50.51 | 63.14 | ||
10 years | 14.174% | 26.57 | 31.75 | 42.11 | 52.47 | 62.83 | 73.19 | ||
7 years | 14.101% | 39.72 | 43.99 | 52.54 | 61.09 | 69.64 | 78.19 | ||
5 years | 13.999% | 51.94 | 55.37 | 62.24 | 69.10 | 75.97 | 82.84 | ||
4 years | 12.477% | 62.48 | 65.49 | 71.50 | 77.52 | 83.53 | 89.54 | ||
3 years | 11.994% | 71.19 | 73.59 | 78.40 | 83.20 | 88.00 | 92.81 | ||
2 years | 10.177% | 82.38 | 84.11 | 87.57 | 91.04 | 94.50 | 97.96 | ||
Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 |