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MarketNews
The Central Bank of Nigeria (CBN) raised about N4.7 trillion (N4,686,266,639,000) from fixed-interest securities investors through OMO bill allotments across three maturities.
Nigerian OMO bills auctioned by the Central Bank last week attracted N6.1 trillion from investors chasing double-digit returns on naira-denominated assets.
The average yield on Nigerian Treasury bills declined by 90 basis points (bps) in the secondary market as investors increased bets on naira assets, prompting sharp repricing.
Nigerian Treasury Bill Selloffs Provoke 10bps Yield Surge It was seller market during the midweek…
Interbank rates crossed the 31% benchmark as the liquidity level in the financial system remains in negative territory. Due to a weak funding profile in the financial system, money market rates have remained elevated.
US Federal Reserve slashed fed fund rates by 50 basis points (bps) as hawkish monetary policy has now expired. In a statement, the Fed said recent indicators suggest that economic activity has continued to expand at a solid pace.
Equities investors trading highs and lows on the Nigerian Exchange (NGX) platform gained more than N316 billion due to positive price appreciation is some bellwethers on Wednesday.
The naira soared by more than 7% to N1,539.65 against US dollar in the official foreign exchange (FX) market on the influence of the Central Bank of Nigeria’s (CBN) move to reset exchange rate direction.
ARM Securities Upgrades GTCO Target Price after Earnings Beat Investment analysts at ARM Securities Limited…