Real Yields on Nigeria’s Short-Term Debts Are Now Negative
- Demand for three-month bills surges to highest on record
- Yields on 91-, 182- and 364-day bills are below inflation rate
Lagos, Nigeria.
Photographer: Florian Plauchuer/AFP via Getty Images
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Yields on Nigeria’s one-year Treasury bills fell to the lowest since April 2016, while demand for three-month debt surged to a record as local funds pile into the debt after the central bank restricted their access to its higher-yielding securities.