COUNTRY •
NIGERIA
Last Update: 22 Sep 2023 17:15 GMT+0
The Nigeria 10Y Government Bond has a 14.624% yield.
10 Years vs 2 Years bond spread is 181.6 bp. Normal Convexity in Long-Term vs Short-Term Maturities.
Central Bank Rate is 18.75% (last modification in July 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 | 12.808% | +217.0 bp | +263.1 bp | 78.58 | -3.81 % | -4.61 % | 22 Sep | ||
3 years | 13.170% | +32.2 bp | +117.6 bp | 68.99 | -0.86 % | -3.09 % | 22 Sep | ||
4 years | 13.601% | +54.8 bp | +112.4 bp | 60.04 | -1.93 % | -3.91 % | 22 Sep | ||
5 years | 14.125% | +51.7 bp | +12.6 bp | 51.65 | -2.25 % | -0.56 % | 22 Sep | ||
7 years | 14.423% | +53.4 bp | +32.2 bp | 38.94 | -3.23 % | -1.96 % | 22 Sep | ||
10 years | 14.624% | +43.5 bp | +45.0 bp | 25.54 | -3.73 % | -3.88 % | 22 Sep | ||
20 years | 15.451% | +26.3 bp | +61.7 bp | 5.65 | -4.40 % | -10.17 % | 22 Sep | ||
30 years | 15.698% | +48.2 bp | +28.5 bp | 1.26 | -11.89 % | -7.35 % | 22 Sep |
Last Update: 22 Sep 2023 17:15 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 (18.75%) |
|||
---|---|---|---|---|---|---|
2 years | 5 years | 10 years | ||||
30 years | 15.698% | -305.2 bp | ||||
10 years | 14.624% | -412.6 bp | ||||
5 years | 14.125% | -462.5 bp | ||||
2 years | 12.808% | -594.2 bp |
Focusing on 2 years Government Bond:
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5Y vs 2Y | 131.7 bp | Normal Convexity in Mid-Term vs Short-Term Maturities | ||
10Y vs 2Y | 181.6 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-
|
- |
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 | 18.75% |
Nigeria 10Y Bond Yield Spread
The Nigeria 10Y Government Bond has a 14.624% 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 | 1390.0 bp | +37.4 bp | +2.1 bp | Compare | |
China 10Y | 1191.7 bp | +29.8 bp | +62.9 bp | Compare | |
Germany 10Y | 1189.2 bp | +20.4 bp | -11.7 bp | Compare | |
France 10Y | 1133.9 bp | +18.0 bp | -13.1 bp | Compare | |
Spain 10Y | 1081.8 bp | +15.4 bp | -13.2 bp | Compare | |
Canada 10Y | 1067.3 bp | +15.6 bp | -72.1 bp | Compare | |
United Kingdom 10Y | 1037.8 bp | +71.2 bp | -43.8 bp | Compare | |
Australia 10Y | 1030.2 bp | +24.0 bp | -62.3 bp | Compare | |
United States 10Y | 1018.9 bp | +20.0 bp | -57.1 bp | Compare | |
Italy 10Y | 999.2 bp | -4.2 bp | -13.0 bp | Compare | |
India 10Y | 747.4 bp | +47.9 bp | +64.5 bp | Compare | |
Brazil 10Y | 323.5 bp | +15.0 bp | +213.4 bp | Compare | |
Russia 10Y | 205.4 bp | -30.5 bp | -97.0 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 | 15.698% | 1.26 | 7.55 | 20.13 | 32.71 | 45.29 | 57.87 | ||
20 years | 15.451% | 5.65 | 11.76 | 23.97 | 36.18 | 48.39 | 60.61 | ||
10 years | 14.624% | 25.54 | 30.63 | 40.82 | 51.00 | 61.18 | 71.37 | ||
7 years | 14.423% | 38.94 | 43.17 | 51.64 | 60.11 | 68.58 | 77.04 | ||
5 years | 14.125% | 51.65 | 55.08 | 61.92 | 68.77 | 75.61 | 82.46 | ||
4 years | 13.601% | 60.04 | 62.98 | 68.86 | 74.73 | 80.61 | 86.48 | ||
3 years | 13.170% | 68.99 | 71.35 | 76.06 | 80.76 | 85.47 | 90.18 | ||
2 years | 12.808% | 78.58 | 80.25 | 83.60 | 86.94 | 90.29 | 93.63 | ||
Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 |