INFLATION WATCH – SEPTEMBER 2021

Nigeria’s Headline Inflation Figures: Trickles Further to 16.63% The annual inflation rate for September printed at 16.63% year-on-year (down 38bps from 17.01% recorded in August 2021), on the back of tempered food price growth and boost from a lower base effect. The published figures indicated that inflation fell to an eight-month low in September, albeit… Continue reading INFLATION WATCH – SEPTEMBER 2021

FINANCIAL MARKETS TODAY – 15 October 2021

The National Bureau of Statistics (NBS) confirmed in its monthly report, the nation’s sixth consecutive month of disinflation, with the Consumer Price Index (CPI), which measures inflation settling at 16.63% year-on-year in September 2021 vs 17.01% recorded in August 2021. This rise in consumer prices at 16.63% , higher than Bloomberg’s estimate of 16.50% is attributable to sustained decline in the prices of food items. The food sub-index declined for the sixth consecutive month, to 19.57% year-on-year from 20.30% year-on-year in August 2021, while the All items less farm produce sub-index rose to 13.74% year-on-year from 13.41% year-on-year in August 2021.

FINANCIAL MARKETS TODAY – 14 October 2021

Interbank system liquidity opened with a balance of ca ₦5.59 billion, lower than the previous day’s opening balance of ca ₦75.14 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 11.00% and 11.25% from 7.50% and 8.00% respectively, the previous day.

FINANCIAL MARKETS TODAY – 13 October 2021

Interbank system liquidity opened with a balance of ca ₦75.14 billion, lower than the previous day’s opening balance of ca ₦190.61 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 7.50% and 8.00% from 5.00% and 5.50% respectively, the previous day.

FINANCIAL MARKETS TODAY – 12 October 2021

Interbank system liquidity opened with a balance of ca ₦190.61 billion, higher than previous day’s opening balance of ca ₦91.98 billion as inflows of ca ₦110.00 billion from Open Market Operations (OMO) maturities impacted the system. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 5.00% and 5.50% from 10.00% and 10.67% respectively, the previous day.

FINANCIAL MARKETS TODAY – 11 October 2021

Interbank system liquidity opened with a balance of ca ₦91.98 billion, higher than Friday’s opening balance of ca ₦22.67 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended slightly lower to settle at 10.00% and 10.67% from 14.00% and 14.50% respectively, the previous day.

AIICO MONEY MARKET FUND NEWSLETTER -SEPTEMBER 2021

and improving from previous month’s closing rate of 7.23% p.a. This comes as the fund’s treasury bills and other short-term securities holdings returned higher yields, with the 364-day paper closing at 7.50% for the month. Weighted Average tenor of the assets in the fund closed at ca 84.16 days, while year-to-date returns settled at +8.27%.

FINANCIAL MARKETS TODAY – 08 October 2021

FIXED INCOME MARKET Money Markets   Interbank system liquidity opened with a credit balance of ca ₦22.67 billion, higher than yesterday’s deficit balance of ca ₦16.31 billion. Nonetheless, the Open Buy Back (OBB) and Overnight (ON) rates trended slightly higher to settle at 14.00% and 14.50% from 13.50% and 14.00% respectively, the previous day. Treasury Bills… Continue reading FINANCIAL MARKETS TODAY – 08 October 2021

AIICO BALANCED FUND NEWSLETTER – SEPTEMBER 2021

OVERVIEW AIICO Balanced Fund is an open-ended mutual fund, investing in Fixed income instruments, Money market instruments, and both Quoted and Unquoted equities. FUND PERFORMANCE The improved performance of the fund in September, can be closely tied to the sustained improvement in the equities market. The fund’s net yield improved month on month to  -1.59%… Continue reading AIICO BALANCED FUND NEWSLETTER – SEPTEMBER 2021

FINANCIAL MARKETS TODAY – 07 October 2021

FIXED INCOME MARKET Money Markets   Interbank system liquidity opened in a deficit of ca ₦16.31 billion, lower than yesterday’s opening balance of ca ₦101.54 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 13.50% and 14.00% from 7.50% and 7.75% respectively, the previous day. Treasury Bills The NTB… Continue reading FINANCIAL MARKETS TODAY – 07 October 2021