FINANCIAL MARKETS TODAY – 15 October 2024
Money Market System liquidity improved, although it remained negative, with over ₦1.5 trillion exposed to the CBN’s SLF window. Despite this, the Open Repo Rate (OPR) increased by 11 bps to 32.30%, while the Overnight Rate (O/N) settled at 32.68%.…
INFLATION WATCH – September 2024
Inflation Watch – Nigeria’s Inflation Surges to 32.70%, Reversing Two-Month Decline Streak In September 2024, Nigeria experienced a significant rise in headline inflation to 32.70% y/y, surpassing the estimated 32.34% and marking the first…
FINANCIAL MARKETS TODAY – 14 October 2024
Money Market Opening system liquidity plunged further into negative territory, bolstered by Friday’s OMO sale of over ₦900 billion. Nonetheless, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 17 bps and 33 bps to 32.19% and…
AIICO EUROBOND FUND NEWSLETTER – SEPTEMBER 2024
OVERVIEW AIICO Eurobond Fund is an open-ended Dollar denominated mutual fund, strategically investing in high-quality Nigeria sovereign & non-sovereign Eurobonds and in investment-grade money market instruments. INVESTMENT OBJECTIVES The investment…
AIICO EUROBOND FUND NEWSLETTER – AUGUST 2024
OVERVIEW AIICO Eurobond Fund is an open-ended Dollar denominated mutual fund, strategically investing in high-quality Nigeria sovereign & non-sovereign Eurobonds and in investment-grade money market instruments. INVESTMENT OBJECTIVES The investment…
FINANCIAL MARKETS WEEKLY – 11 OCTOBER 2024
Money Markets This week, system liquidity ended in a deficit due to various factors, such as CBN FX interventions, net CRR debits, CBN SWAP rollovers, and OMO auction settlements. The CBN’s OMO auction at the week’s end led to a ~33% rate…
FINANCIAL MARKETS TODAY – 10 October 2024
Money Market Opening system liquidity plunged into negative territory, with over ₦1 trillion borrowed from the CBN’s SLF window. As a result, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 13 bps and 15 bps to 32.03% and 32.40%,…
FINANCIAL MARKETS TODAY – 09 October 2024
Money Market Opening system liquidity improved significantly, supported by OMO maturities. As a result, the Open Repo Rate (OPR) and the Overnight Rate (O/N) declined by 49bps and 56bps to 31.90% and 32.25%, respectively. Outlook: We expect the interbank…
FINANCIAL MARKETS TODAY – 08 October 2024
Money Market System liquidity decreased further, with around ₦910 billion exposed to the CBN’s SLF window. As a result, the Open Repo Rate (OPR) rose by 11 bps to 32.39%, while the Overnight Rate (O/N) remained unchanged at 32.88%. Outlook: We…
Monthly Financial Market Update – September 2024
Global Macroeconomic Review United States: The US Federal Reserve made a significant decision to cut its interest rates for the first time in over four years. The key lending rate was reduced by 0.5 percentage points to 4.75% – 5%. The…
