Nigeria rejoins J.P. Morgan Global Bond Index after 11 years
Nigeria’s inclusion in a J.P. Morgan global bond index is expected to attract about $17.5 billion into the country’s debt market and lower bond yields by up to 200 basis points. The post Nigeria rejoins J.P. Morgan Global Bond Index after 11 years appeared first on Premium Times Nigeria .
Nigeria's return to the JP Morgan emerging-market bond index after an 11-year absence was announced by the Federal Ministry of Finance, marking its first comeback since 2015. The new Government Bond Index–Emerging Markets Edge, launched recently, includes selected Federal Government of Nigeria bonds, with Nigeria assigned a 7.40 per cent weighting, which is one of the highest among the 26 markets covered by the index and near JP Morgan’s maximum country weighting of eight per cent.
Nigeria's return to the index is attributed to reforms that have stabilised the naira, cleared foreign exchange backlog, and improved economic conditions. The inclusion is expected to attract additional foreign portfolio inflows into the Nigerian debt market, strengthen bond prices, and reduce domestic yields.
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- JP Morgan adds FGN bonds to emerging markets index dailypost.ng
- Nigeria returns to JP Morgan bond index after 11 years punchng.com
