Wall Street shrinks over G20 Summit

 U.S. stocks fell in choppy trading on Thursday as uncertainty over the outcome of a high-stakes meeting between the United States and China at the upcoming G20 Summit kept investors on the sidelines. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2018. REUTERS/Brendan McDermid […]

Modest higher yields seen mid-term as bond market closes bearish

NASD, Bond, First Bank, Bond Market, Low income earners

Analysts at Cordros Capital have predicted that medium-term yield in the bond market will be modestly higher thanks to domestic monetary policy direction, political uncertainty and government borrowing as the market closes on a bearish note. “We expect yields to take a cue from primary auction stop rates in the coming week. However, we reiterate […]

UK government bonds sold off by foreign investors amid Brexit fears

Brexit fears

Bank of England data released on Thursday showed that £17.2 billion in foreigners’ holdings in July dropped, the largest since records began in 1982, and up sharply from net sales of 1.362 billion pounds in June amid Brexit fears. Although foreign buyers have snapped up some £55 billion in gilts since the referendum in 2016, […]

Investors bet on Nigeria’s 10-year bond

NASD, Bond, First Bank, Bond Market, Low income earners

Following the capital raise of N66.9 billion at the July 2018 FGN Bond, the Debt Management Office (DMO) has disclosed that investors showed a strong preference for the 10-year bond. “Investors showed a strong preference for the 10-year bond with a total subscription of N50.51 billion, compared to the N40 billion that was offered,” the […]

Nigeria’s NASD over-the-counter bonds transactions hit N12.1bn in 2017

NASD, Bond, First Bank, Bond Market, Low income earners

Nigeria’s NASD over-the-counter (OTC) securities exchange-traded bonds transactions expanded to N12.08 billion in the 2017, according to Olutola Mobolurin, the company’s chairman. Mobolurin, who disclosed this at the company’s annual general meeting Tuesday, said the NASD admitted five new securities to close the year with 34 securities representing a 3.13 percent increase in the number […]

Expectations of declines in yields to buoy fixed income market

Market analysts say they expect a decline in treasury bills yields to boost the fixed income market this week, noting that investor appetite for longer-tenured instruments to dictate performance. System liquidity squeeze had forced bearish performance across different segments of the money market last week as market rates – Open buyback (OBB) and overnight (ON) […]

AfDB launches $2.0bn 3-year global benchmark bond at 2.625% fixed rate

The African Development Bank (AfDB) has launched a $2.0-billion 3-year global benchmark bond at 2.625 percent fixed rate due March 22, 2021. According to a statement, the bond issue represents the Bank’s first public market deal in 2018 after a $2.0-billion 5-year global benchmark bond priced in November 2017 and is in line with its […]

FG offers savings bonds at 10.7%, 11.7 % in March

The Federal Government on Monday offered for a subscription a two-year savings bond at 10.74 percent and three-year savings bond at 11.74 percent. According to a posting by the Debt Management Office (DMO), the two year savings bonds will be due in March 2020. DMO said the three-year savings bond would be due in March […]

Nigeria bond auction raises N80bn, 20% less amount on offer

Nigeria raised N79.62 billion ($260.20 million) at an auction of government bonds Wednesday, which is less than it originally planned after it got fewer subscriptions for the most liquid five-year debt, traders said on Thursday. The Debt Management Office (DMO) specifically sold N27.18 billion in five-year bonds at 13.70 percent and N52.44 billion in 10-year […]