- Nigeria’s 20-Year US Dollar Bond Yield Falls to 8.50%
- UK, Nigeria Seek Investment in Small Hydropower Projects
- Fidelity Bank Redeems $400 Million Eurobond at Maturity
- Oil Prices Ease on Hope of Fresh US-Iran Talks, Brent Dips to $110
- Excess Liquidity in Banking System Eases to N8.6trn, Rates Diverge
- Naira Sustains Rally as Interbank FX Turnover, Deal Counts Dip
- FG Pays N1.2trn Power Debt, Targets 19,000MW Transmission Capacity
- XRP Jumps as Ripple, Coinbase Partner to Expand Access to RLUSD
MarketNews
Yields on Nigeria’s sovereign US dollar bonds slipped across the short, belly, and long ends of the curve as foreign portfolio investors and asset managers returned to international markets and piled into oil-linked issuers.
Money market rates diverged as liquidity surplus in the Nigerian banking system eased to about N8.6 trillion ahead of Thursday’s Treasury bills auction settlement.
The naira rose against the US dollar at the Nigerian foreign exchange market (NFEM) on Wednesday as data showed interbank FX trading moderated.
Equities investors lost more than N72 billion as selloffs halted eight days of gaining streaks on the Nigerian Exchange on Friday. Trading session ended negative due to profit-taking activities on Aradel Holdings, halting an eight-day rally.
The average yield on Nigeria’s Eurobond rose as foreign portfolio investors (FPIs) liquidated positions amidst U.S. interest rate cuts. The risk-off reactions followed sustained monetary easing in the U.S. amidst expectations that a rate cut would cause a flight to safety in 2025.
Liquidity Deficit in Banking System Keeps Interbank Rates Elevated The liquidity deficit in the banking…
Aradel Holdings Plc, and some banking names are driving positive momentum on the Nigerian Exchange (NGX) trading platform during early trading hours on Thursday. Investors are hunting for oil stock and Aradel Holdings has become an attractive counter amidst sustained bullish trend in the local bourse.
The global commodities market saw a decline in oil prices as the US dollar rose above its two-year high following the Fed’s rate cut. Brent declined around $72 per barrel while US WTI plunged below $69 per barrel as dollar gain overshadowed 25 basis points Fed funds rates cut.
Money Market Rates Ease, Liquidity Deficit Expands Money market rates eased despite tight liquidity in…