Bond Yields Rise Across Board to Five Month High

Nigerian bond yields rose 50 basis points across maturities on Wednesday to a level last seen five months ago, traders said.

Investors, worried that rising global inflation could trigger a rate hike in developed economies and lead to a capital flight in emerging markets, were closing out their bond positions, traders told Reuters.

The benchmark 20-year debt jumped 13.5 percent to a five month high. The most liquid five-year bonds rose to 13.7 percent from 13.2 percent in the previous session, traders said.