Yield on Nigeria's 5-year bond sheds 25 bps after election

Reports say the yield on Nigeria's 5-year bond fell further on Thursday, shedding 25 basis points as offshore funds placed buy orders with banks following a presidential poll in Africa's biggest economy won by

the all progressive congress candidate Muhammadu Buhari.
The 2019 debt, one of the maturities listed on JP Morgan's Government Bond Index-Emerging Markets (GBI-EM), has fallen more than 110 basis points in the past two days on
renewed buying on news of Buhari victory over incumbent Goodluck Jonathan.
The bond's yield was quoted at 13.86 percent in early trade, down from 14.11 percent on Wednesday and had stood at 15.03 percent on Tuesday.