INFLATION WATCH – JULY 2024
Inflation Watch – First Decline in Headline Inflation Since December 2022 Nigeria’s headline inflation grew at a slower pace of 33.40% y/y in July 2024, down from 34.19% y/y in June, according to data from the National Bureau of Statistics…
FINANCIAL MARKETS TODAY – 14 August 2024
FIXED INCOME MARKETS Money Market System liquidity opened narrowly positive today, following yesterday’s deficit balance. Thus, the Open Repo Rate (OPR) decreased by 244 bps to 34.17%, and the Overnight Rate (O/N) dropped by 191 bps to 35.06%.…
AIICO EUROBOND FUND NEWSLETTER – JULY 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 – 09 AUGUST 2024
FIXED INCOME MARKETS Money Markets System liquidity remained positive for most of the week but turned negative by the end of the week. As a result, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 778 bps and 791 bps to 33.39% and…
FINANCIAL MARKETS TODAY – 08 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity decreased by c.36.94% compared to yesterday’s balance. Thus, the Open Repo Rate (OPR) increased by 557 bps to 30.97%, while the Overnight Rate (O/N) increased by 587bps to 31.72%. Outlook: We…
FINANCIAL MARKETS TODAY – 07 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity decreased by c.4.67% compared to yesterday’s balance. However, the Open Repo Rate (OPR) increased by 5 bps to 25.40%, while the Overnight Rate (O/N) decreased by 5bps to 25.85%. Outlook: We…
FINANCIAL MARKETS TODAY – 06 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity decreased by c.21.37% compared to yesterday’s balance. However, the Open Repo Rate (OPR) declined by 5 bps to 25.35%, while the Overnight Rate (O/N) increased by 10bps to 25.90%. Outlook: We…
Monthly Financial Market Update – July 2024
Global Macroeconomic Review United States: The consumer prices in the United States moderated to 3.00% y/y in June (estimated at 3.10%), down from 3.30% y/y in May. This marks the third consecutive drop in inflation in 2024 and the lowest yearly…
FINANCIAL MARKETS TODAY – 05 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity decreased slightly by c.0.76% compared to Friday’s balance. However, the Open Repo Rate (OPR) declined by 21 bps to 25.40%, while the Overnight Rate (O/N) decreased by 26bps to 25.80%.…
FINANCIAL MARKETS WEEKLY – 02 AUGUST 2024
FIXED INCOME MARKETS Money Markets System liquidity maintained a positive balance throughout the week, supported by some government-related disbursements. Hence, the Open Repo Rate (OPR) and the Overnight Rate (O/N) decreased by 52bps and 60bps to 25.61%…
