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Middle East & Africa

Markets - Fixed Income - Middle East & Africa

Yields on Nigeria's local-currency bonds rise at auction LAGOS: Yields on Nigeria's naira-denominated bonds rose across the board at an auction on Wednesday, where about 112 billion naira ($563 million) worth of paper maturing in 2036, 2026 and 2020 was sold, the Debt Management Office (DMO) said on Thursday. The office said it had sold 50 billion naira of 2036 paper at 14.98 percent at Wednesday's auction, compared with 13.90 percent at the previous auction last month. It also sold 40 billion naira of 2026 debt at 14.40 percent, against 13.74 percent, and 22 billion naira of the 2020 debt at 14.20 percent against 13.24 percent. Dealers said the yields reflected a rise in inflation, which hit a six-year high of 15.58 percent in May."Many investors were pushing for higher yields at the auction to reflect the higher inflation figure released recently, which was above the prevailing interest rate in the market," one trader said. Investors' bids had ...

Markets - Fixed Income - Middle East & Africa

Mauritius 4-year central bank note yield rises to 3.84pc PORT LOUIS: The weighted yield on a four-year Bank of Mauritius bond rose to 3.84 percent at auction on Thursday from 3.70 percent at the last sale on May 23, the central bank said. The bank sold all the 1.5 billion rupees ($42.40 million)worth of the debt it had offered. Bids received amounted to 1.965 billion rupees at yields ranging from 3.50 percent to 4.25 percent. The bond will mature on June 17, 2020, and ...

Markets - Fixed Income - Middle East & Africa

Yields on Uganda's 3-year Treasury bond falls at auction KAMPALA: The yield on Uganda's three-year Treasury bond fell while the yield on the 10-year bond climbed at auction on Wednesday where a combined total of 150 billion shillings ($44.91 million) worth of debt was on offer.The weighted average yield on the three-year bond declined to 17.420 percent, compared with 18.619 percent at the last sale on February 25.The rate on the ten-year bond climbed to 17.631 percent from 16.991 percent at the last auction ...

Markets - Fixed Income - Middle East & Africa

Kenya to sell two-year, 15-yr T-bonds worth 30bn shillings in June NAIROBI: Kenya will sell two-year and 15 year Treasury bonds worth up to 30 billion shillings ($297.32 million) this month to support the budget, the central bank said on Sunday. The bank said it will receive bids for the bonds between June 5 and June 14, and auction it on June 15. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

South Africa's rand firms as US data soothes risk aversion JOHANNESBURG: South Africa's rand firmed for a third consecutive session against the dollar on Thursday as global investors became less adverse to risk after U.S. data cooled expectations of an interest rate hike by the Federal Reserve.By 0650 GMT that rand had gained 0.29 percent to 15.5585 per dollar, pushing past technical resistance around 15.6500 and opening the door for further gains before Friday's ratings decision by Standard & Poor's.Data on Wednesday showed that U.S. ...

Markets - Fixed Income - Middle East & Africa

Kenya 91-day T-bill yield slips to 7.711pc NAIROBI: The weighted average yield on Kenya's 91-day Treasury bills fell to 7.711 percent at auction on Thursday from 7.998 percent last week, the central bank said. The bank said it received bids worth 10.21 billion shillings ($101.49 million) for the 4.00 billion shillings of bills offered. It accepted bids worth 7.28 billion shillings.Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Nigeria bond yields fall as traders buy debt after FX shift LAGOS: Yields on Nigeria's government bond fell across maturities on Wednesday as traders bought debt to cover their positions, a day after the central bank kept interest rates on hold but pledged a flexible currency policy to lure back foreign investors. On Tuesday, the central bank said it would adopt a flexible exchange rate policy, a shift from a peg for the naira seen as overvalued, which had hampered growth and investment. Bond yields fell ...