Monthly Archives: July, 2024

Investors continue search for high yield investment option has continued to trigger portfolio adjustment, rebalancing amidst the worsening inflation condition in Nigeria. Last week, the average yield on Federal Government of Nigeria (FGN) bond spiked by 23 basis points in the secondary market over sustained risk off sentiment on local borrowing instruments.

The Central Bank of Nigeria (CBN) hiked spot rate on one year treasury bills instrument sold to investors by 18 basis points at the primary market auction (PMA) last week. The latest uptick in spot rate is in contrast to pattern seen in the recent past with successive price down at the long dated treasury bills issuance.