AIICO MONEY MARKET FUND NEWSLETTER – February 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,…
FINANCIAL MARKETS WEEKLY – 22 March 2024
FIXED INCOME MARKETS MONEY MARKETS At the beginning of the week, system liquidity stood at c.-₦351.51 billion. However, as the week progressed, it shifted to a positive position, thanks to inflows from SWAP maturities, CRR refunds, and FGN Bond coupons.…
FINANCIAL MARKETS TODAY – 21 March 2024
FIXED INCOME MARKETS MONEY MARKETS Today, system liquidity opened lower at c.₦47.67 billion compared to ₦97.44 billion reported yesterday. As a result, the Open Repo Rate increased by 76bps to 26.43%, while the Overnight Rate increased by 74 bps, to…
FINANCIAL MARKETS TODAY – 20 March 2024
FIXED INCOME MARKETS MONEY MARKETS Opening liquidity system improved, shifting to a positive balance of c.₦97.44 billion compared to yesterday’s deficit of -₦125.87 billion. This improvement occurred despite the settlement of the FGN bond auction…
FINANCIAL MARKETS TODAY – 19 March 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity surged into positive territory, reaching c.₦125.87 billion from yesterday’s reported deficit of around -₦351.51 billion. Consequently, the Open Repo Rate witnessed a decrease of 247 bps,…
FINANCIAL MARKETS TODAY – 18 March 2024
FIXED INCOME MARKETS MONEY MARKETS The market saw continued negative system liquidity, although it showed some improvement compared to the previous Friday, owing to inflows from coupons providing some support to the financial system. Specifically,…
FINANCIAL MARKETS WEEKLY – 15 March 2024
FIXED INCOME MARKETS MONEY MARKETS This week, coupon inflows and FGN 2024 bond maturity impacted the financial system, as system liquidity improved to -₦791.69 billion from -₦2,221.81 billion recorded last Friday. Nonetheless, the Open Repo Rate (OPR)…
INFLATION WATCH – FEBRUARY 2024
Nigeria’s headline inflation for February crossed the psychological 30% mark at 31.70% y/y, from 29.90% y/y in January, adding 1.80% in one month period (Bloomberg’s estimate: 31.30%). Monthly headline inflation jumped to 3% levels at 3.12% m/m, from…
FINANCIAL MARKETS TODAY – 14 March 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity remained in the negative territory, but slightly better than yesterday, given the coupon inflows and 2024 FGN Bond maturity. Specifically, it opened at -c.₦675.98 billion today compared with…
FINANCIAL MARKETS TODAY – 13 March 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity remained in the negative territory, opening at -c.₦2,088.11 billion today compared with -c.₦2,269.58 billion recorded yesterday. Consequently, both the Open Repo Rate and Overnight Rate increased by…
