Zedcrest Partners Ltd Bonds The FGN Bond market continued on a quiet note for the second consecutive trading session. We noticed slightly improved offers from market participants across most securities but very little volumes passed. Yields consequently remained unchanged on the average across the benchmark yield curve. We maintain a cautious […]
By Zedcrest Partners Ltd *** Apex Bank Maintains Benchmark Rates At MPC Meeting *** Bonds The bullish run in the Bond market slowed in today’s session, as the Monetary Policy Committee meeting took center stage. Spreads tightened in the market, as yields closed the session lower by c.6bps on the average on […]
By Zedcap Partners Ltd *** August 2019 CPI reported at 11.02%, as Central Bank pulls back MPC meetings to this week *** Bonds The Bond market started the trading session on a bullish note, as investors looked to re-invest coupon payments received this week. We noted increased demand for duration as […]
By Zedcrest Capital Bonds The Bonds market ended the week on a muted note, with relatively low volumes again traded during the trading session. Yields across the benchmark curve compressed by c.1bps as investors apathy for current market yields continued. We however noted some improved interest in corporate and municipal bonds, as […]
By Zedcrest Capital ***President Trump ousts national security adviser, opens the door for a deal with Iran*** Bonds The Bond market had a quiet trading session, with very little flows seen on select maturities. Yields compressed marginally by c.1bps on the average across the benchmark Bond curve. We noted some selling […]
By Zedcrest Capital ***US FED Chair plays down recession risks, reinforces expectations for 25bps rate cut*** Bonds The FGN Bond market closed the week with sustained demand pressures across the curve. Yields compressed further by c.7bps on the average across the FGN Bond Benchmark curve, most notably at the short- to […]
By Zedcrest Capital ***Nigeria’s GDP slows to 1.94% in Q2 2019, as non-oil sector contracts*** Eurobonds The NGERIA Sovereigns weakened further, as a decline in oil prices from the trade war escalation and possible increase in output by the OPEC+ weighed on sentiments during the session. The NGERIA corps were the […]
By Financescape The Debt management office of Nigeria has released circular for the August 2019 FGN savings bond auction. Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004. DMO on behalf of the Federal Government of Nigeria offers for […]
By Zedcrest Yields trended higher in the NGERIA Sovereign space as some expectations for a more than a quarter point rate cut by the US FED faded, following the fairly positive US Q2 19 GDP results (2.1% actual vs 1.8% consensus). Yields were consequently higher by c.7bps on the day, with the 47s […]
By Financescape The July 2019 FGN Bond Auction took place on July 24, 2019. In a press release, the Debt management office Nigeria disclosed that three (3) Instruments (5-Year,10-Year, and 30-Year Tenors) with a total value of N145 Billion were offered for subscription. According to the agency, 298 Competitive Bids were received from […]
