Author: Julius Alagbe

J.P. Morgan Lists FGN bonds in New Emerging Markets Bond Index J.P. Morgan, which manages the world’s most widely tracked emerging markets bond indices, has announced the inclusion of selected Federal Government of Nigeria (FGN) Bonds in its newly introduced Government Bond Index–Emerging Markets Edge (GBI-EM Edge), a benchmark tracking local-currency government debt across frontier emerging markets. The inclusion reflects the impact of the government’s economic reforms, including the stabilisation of the naira, the clearance of the foreign exchange backlog, and broader improvements in GDP growth and inflation, which have strengthened investor confidence in Nigeria’s domestic debt market. J.P. Morgan…

XRP Up 4% as Ripple Targets $13T Treasury Market with RLUSD XRP price rose by approximately 4% to $1.39 on Monday, significantly outperforming Bitcoin’s +1.2% move, primarily driven by anticipation of a key U.S. regulatory vote. The token climbed as traders’ position ahead of U.S. Senate cloture vote on the CLARITY Act vote scheduled for Sept 15. The bill aims to clarify digital asset regulations, and its advancement is seen as a major positive for XRP, which gained regulatory clarity last year. Traders are front-running the potential for a short squeeze, with analysis noting $9.46 million in XRP shorts are…

SpaceX Tokenized bStocks Climbs on Broader Market Rally SpaceX Tokenized bStocks (SPCXB) price climbed 0.35% to $149.25 on Monday, moving modestly higher in a broader crypto market that gained 1.43%. This small drift appears primarily driven by a low-beta move with the wider market, as no clear coin-specific catalyst was visible in the provided data. SPCXB’s 0.35% gain trailed Bitcoin’s 1.86% rally and the total crypto market’s 1.43% rise over the same period. This indicates the token is moving with general market sentiment but exhibits lower volatility and sensitivity (beta) compared to major cryptos. The token’s price action is currently…

NVIDIA Tokenized Stock Dips after Call to Slowdown AI NVIDIA Tokenized Stock (Robinhood) is down 1.71% to $210.92 in 24h, underperforming a rising crypto market, primarily driven by a sector-wide sell-off in AI and semiconductor stocks. Leading AI CEOs, including Anthropic’s Dario Amodei and OpenAI’s Sam Altman, publicly called for a coordinated slowdown in frontier AI development over the weekend, citing safety risks. This rare consensus spooked investors who have fueled the AI capital expenditure boom, directly hitting semiconductor stocks like Nvidia. The move reflects a sudden repricing of growth expectations for the AI hardware sector, not a fundamental change…

The Debt Management Office (DMO) is scheduled to conduct its monthly Federal Government

Ripple (XRP) price inched up 0.77% to $1.38 on Monday ahead of the CLARITY Act,

Naira Softens Against U.S. Dollar Despite FX Intervention The naira closed at N1326 per US dollar at the official window following the Central Bank of Nigeria’s (CBN) FX intervention and a surge in external reserves. The local currency posted mixed performance against the U.S. dollar across both the official and parallel foreign exchange markets. In the official market, the naira depreciated by 0.40% week-on-week (WoW) to close at N1,326.52 at the Nigerian foreign exchange market (NFEM). The local unit weakened despite $151 million FX intervention sales at the NFEM window, reflecting significant demand pressures that triggered dollar sales to banks.…

Anthropic Chooses Nasdaq for Initial Public Offering Anthropic has chosen Nasdaq as the listing venue for its potential initial public offering (IPO), with plans to list in October. Nasdaq previously successfully listed SpaceX, which is valued at $1.75 trillion, while Anthropic’s valuation could reach $2 trillion. Anthropic announced June 1 that it confidentially submitted a draft S-1 to the Securities and Exchange Commission.  The filing gives Anthropic an option to proceed after the regulator completes its review. Anthropic’s IPO filing has not yet been made public, but the company will need to release its financials at least 15 days before…

First ‌‍⁠‌‍⁠⁠‌‍⁠‍‌‌‌‍‌Bank Expo to Strengthen Nigeria’s Agricultural Exports First Bank of Nigeria Ltd. says its fifth Agric and Export Expo will focus on strategies to strengthen Nigeria’s agricultural export value chain and expand the country’s non-oil export earnings. The bank said in a statement on Sunday that the two-day expo would bring together policymakers, regulators, agribusiness leaders, exporters, investors and development partners. It said the event, with the theme, “From Farm to Global Markets: Building Nigeria’s Export Value Chain”, would hold at the Eko Convention Centre, Lagos. According to FirstBank, discussions at the expo will centre on emerging market opportunities,…

Nigeria’s foreign reserves increased to $54.410 billion following the latest round of FX inflows into the local economy, with more than 99% of the credit balance staying liquid.