From mid-March through to the beginning of this month, the Federal Government of Nigeria (FGN) bond market was a one-way bet, with yields tightening and prices moving up steadily. Two
Last week we received a lot of questions about the foreign exchange markets. Was the World Bank forcing the Nigeria’s hand in demanding unification of all exchange rates? Why was
Talking with clients about our report ‘Navigating the Capital Market; the Investors’ Dilemma’, 14 July 2020 we sometimes hear back that Federal Government of Nigeria bonds are safe while equities
Global equity markets have been trending up this month. Markets are showing confidence in a global economic rebound, despite significant setbacks from the rising number of recorded Covid-19 cases in
Until recently, the behaviour of the parallel exchange rate this year has been a mystery. Why did it not respond to pent-up demand for US dollars by adjusting rapidly? The
A report on Nigerian Investments For 10 years up until the end of 2019, Nigerian investors and savers had it good. By investing in Nigerian Treasury Bills they could get
From time to time we notice equity markets taking a pause, trading sideways for a month, before launching again upwards or downwards. One of the ways to measure the health
The International Monetary Fund (IMF) recently revised downwards its estimates of global economic activity. The global economy is now forecast to contract by 4.9% this year, with Nigeria due to
The fiscal position of the Federal Government of Nigeria (FGN) is, not surprisingly, tight, as oil prices have crashed and economic growth has slowed down. As we describe below, being
When a currency is under pressure you expect interest rates to go up, and the long-term (we mean 10-year) lesson is that this generally happens in Nigeria. But is it
