Sovereign bond auction draws strong demand
Investors piled into the long end, signalling confidence in the disinflation path.
The latest sovereign bond auction was heavily oversubscribed, with the long-dated paper drawing the strongest bid-to-cover of the year.
Pension funds and offshore accounts were the most active participants, according to market participants.
Analysts said the result points to growing conviction that inflation will stay on its current downward path.
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About the author
Adaeze Okonkwo
Markets Editor
Adaeze Okonkwo writes for BusinessPress.
