Government bond auctions see mixed results in Jamaica and Nigeria

The Jamaican government fell short of its $30 billion target during a bond float on Friday, raising only $26.8 billion through the Bank of Jamaica. While a new three-year note was well-supported with $28 billion in bids, the government rejected approximately $4 billion in bids because investors demanded higher interest rates than offered. Conversely, a 20-year bond saw limited interest, raising just under $3 billion—roughly half of its $5 billion target.

In Nigeria, the Federal Government raised N7.62 trillion from the domestic bond market between January and August 2026. These funds, raised through eight auctions by the Debt Management Office, are intended to finance the national budget and address a projected deficit of approximately N31.5 trillion. During the August auction, total allotments reached about N1.56 trillion, supported by strong investor demand and non-competitive allotments.