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…
FINANCIAL MARKETS TODAY – 07 October 2024
Money Market Opening system liquidity improved to start the week but remained in negative territory, keeping the interbank rates elevated. Specifically, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 5bps and 4bps to 32.28% and…
