Kenyan Yields Slip Below Nigeria’s as Fortunes Diverge: Chart

Kenya’s average local bond yields have fallen below Nigeria’s for the first time since early October. Kenyan shilling yields were 464 basis points higher than naira yields as recently as Nov. 11. Since then the fortunes of the two countries have shifted as Nigeria, Africa’s biggest economy, is battered by low oil prices and rising inflation, while investors are increasingly turning to Kenya, a net energy importer and more diversified economy.

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