Monthly Financial Market Update – September 2023
Global Macroeconomic Review Among major headlines, the global crude oil market was at the spotlight for the most part of September. The OPEC+ giants, Saudi Arabia and Russia, announced voluntary oil production cuts totalling 1.3mbpd till the end of the…
FINANCIAL MARKETS WEEKLY – 06 October 2023
FIXED INCOME MARKETS Money Markets Opening system liquidity settled at ₦532.88 billion today, despite the CRR debit that nearly dampened the FAAC-enhanced liquidity during the week. In percentage terms, liquidity increased by 31.51% from ₦405.20 billion…
FINANCIAL MARKETS TODAY –04 October 2023
FIXED INCOME MARKETS Money Market Following some statutory CRR deductions, the opening system liquidity declined by 55.62% to ₦572.69 billion from ₦1.29 trillion yesterday. Nonetheless, the Open Repo Rate (OPR) and the Overnight Rate (O/N) fell by 110bps…
FINANCIAL MARKETS TODAY –04 October 2023
FIXED INCOME MARKETS Money Market Opening system liquidity ballooned to ₦1.29 trillion today, up by 56.78% from ₦823.07 billion yesterday. However, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 130bps and 155bps to 2.30% and 3.00%,…
FINANCIAL MARKETS WEEKLY – 29 September 2023
FIXED INCOME MARKETS Money Markets Throughout the week, system liquidity remained predominantly positive. Today, It was buoyed by the FAAC monthly credit injection, as opening system liquidity soared by 517.30% to ₦405.20 billion, climbing from ₦65.64…
FINANCIAL MARKETS WEEKLY – 22 September 2023
FIXED INCOME MARKETS Money Markets System liquidity staggered around the positive territory, due to support from coupon inflows. It improved to ₦65.64bn long from -₦317.53bn recorded last week Friday. Consequently, the Open Repo Rate (OPR) and Overnight…
INFLATION WATCH – August 2023
Inflation Watch – August’23 Inflation at 25.80% y/y Nigeria’s inflation for August increased to 25.80% y/y, from 24.08% y/y in July 2023, adding 1.72 percentage points between July and August (Bloomberg Est. 25.00%). The headline inflation…
FINANCIAL MARKETS WEEKLY – 15 September 2023
FIXED INCOME MARKETS Money Markets System liquidity stayed negative this week and worsened to -₦317.53bn today from -₦73.44 billion last week Friday. As a result, the Open Repo Rate (OPR) and Overnight Rate (O/N) expanded by 581bps and 567bps to 23.64%…
Monthly Financial Market Update – August 2023
Global Macroeconomic Review The global financial landscape in August was marked by significant developments and challenges. At the outset of the month, USD-dominated assets experienced a downturn due to Fitch Ratings’ downgrade of the US debt…
FINANCIAL MARKETS WEEKLY – 08 September 2023
FIXED INCOME MARKETS Money Markets System liquidity hovered around ₦200.00bn levels for a major part of this week. However, it opened negative today at ₦73.44 billion short, implying a 120.77% decline when compared to ₦353.59 last week Friday.…
