Monthly Financial Market Update – June 2024
Global Macroeconomic Review United States: Inflation in the US showed stability, easing to 3.30% y/y in May from 3.40% y/y in April, which aligned with market expectations. Similarly, the US inflation on a month-on-month basis eased to 0.20% m/m in May…
AIICO EUROBOND FUND NEWSLETTER – JUNE 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 MONEY MARKET FUND NEWSLETTER – June 2024
OVERVIEW AIICO Money Market fund is an open-ended collective investment vehicles that pools investment monies from various individuals, Corporate organizations and High Net-worth Clients (HNC) for the purpose of investing in money market securities,…
AIICO BALANCED FUND NEWSLETTER – JUNE 2024
OVERVIEW AIICO Balanced Fund is an open-ended mutual fund, investing in Fixed income instruments, Money market instruments and both Quoted and Unquoted equities. INVESTMENT OBJECTIVE The investment objective of the Fund is to create medium to long term…
FINANCIAL MARKETS WEEKLY – 05 JULY 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity stayed short throughout the week, impacted by FX Settlement, CRR debits and other outflows. Thus, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased significantly by 789 bps and 753 bps to…
FINANCIAL MARKETS TODAY – 04 July 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity remained at a deficit balance today. Consequently, the Open Repo Rate (OPR) increased by 22 bps to 31.92%, while the Overnight Rate (O/N) increased by 16 bps to 32.44%. Outlook: We expect…
FINANCIAL MARKETS TODAY – 03 July 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity plunged further to a negative balance today. Consequently, the Open Repo Rate (OPR) increased by 19 bps to 31.69%, while the Overnight Rate (O/N) increased by 36 bps to 32.28%. Outlook: We…
FINANCIAL MARKETS TODAY – 02 July 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity stayed negative today. Consequently, the Open Repo Rate (OPR) increased by 631 bps to 31.50%, while the Overnight Rate (O/N) increased by 610 bps to 31.92%. Outlook: We expect interbank rates to…
FINANCIAL MARKETS TODAY – 01 July 2024
FIXED INCOME MARKETS MONEY MARKETS The opening system liquidity balance fell into a deficit of -₦175.14 billion from the previous ₦514.517 billion recorded last Friday. As a result, the Open Repo Rate (OPR) rose by 102 bps to 25.19%, while the Overnight…
