Top Financial News   

09 July 2018 ( Lagos)


NTB’s and Money Market


Opening market liquidity on Friday was N320bn (positive). Interbank rates closed within a higher range of 10% to 13% due to a retail Fx SMIS. On the NTB secondary market, yields showed no clear direction.

                                                                                                                 

FGN Bonds and Euro Bonds


The FGN bond market was relatively quiet, yields picked up selectively for a few maturities. As for the Eurobond market, there was a dip in yields for all sovereigns under analyst’s coverage.

 

FX


The CBN’s daily fx intervention was again US$0.5m, at N305.20. Additionally, there was a retail fx SMIS. Turnover at the NAFEX increased from US$147m on Thursday to US$179m. Indicative rates ranged from N345 to N363. Official data released on Friday showed that US nonfarm payrolls increased by 213,000 in June, surpassing consensus expectation of 195,000. However, the unemployment rate rose to 4.0%, from 3.8% recorded in the previous month.


Source : Gregory Kronsten, Olubunmi Asaolu, Chinwe Egwim from FBNQuest Capital Limited.


Reporting for EasyKobo on Monday, 9 July 2018 in Lagos, Nigeria

 


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