In the just concluded week, FGN bond prices traded at the OTC segment moved in mixed directions across the maturities. The 20-year, 10.00% FGN July 2030 debt and the 10-year, 16.39% FGN JAN 2022 debt appreciated by N0.23 and N0.09 respectively; their corresponding yields fell to 15.72% (from 15.79%) and 15.83% (from 15.90%) respectively. However, the 7-year 16.00% FGN JUN 2019 debt and the 5-year, 15.10% FGN APR 2017 debt depreciated by N0.06 and N0.17; their corresponding yields rose to 15.83% (from 15.80%) and 14.38% (from 12.21%) respectively. Elsewhere, FGN Eurobonds traded on the London Stock Exchange increased in value across most of the maturities amid bargain hunting. The 10-year, 6.75% JAN 28, 2021 bond and the 10-year, 6.38% JUL 12, 2023 bond appreciated by USD0.36 (yield fell to 5.40%) and USD0.39 (yield fell to 6.03%) respectively. However, the 5-year, 5.13% JUL 12, 2018 bond lost USD0.02 (yield rose to 3.87%). This week, we anticipate bearish activity in the OTC market with resultant decline in local bond prices on the back of anticipated strain in financial system liquidity.