Nigeria bond yields rise as funds sell - dealers

A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos, January 13, 2009. REUTERS/Akintunde Akinleye·Reuters· (Reuters)
Reuters

LAGOS (Reuters) - Yields on Nigeria's government debt rose 12 basis points across all maturities in midday trading on Thursday as foreign investors sold down their holdings, dealers said. There has been a broad emerging market sell-off this week as the U.S. Federal Reserve continues tapering its bond buying programme, which had kept global markets awash with cash. Yields on 5-year, 7-year and 10-year bonds, all listed on JP Morgan's emerging market government bond index, rose in volatile trade, dealers said. The 10-year benchmark bond yield traded at 13.54 percent and has risen 60 basis points over the past three days.