Sep 10 (Lagos) - The yield on the long term Treasury Bills has gone above 13% again and that is a worry sign for the stock market.
We can expect money to start pouring in to the T-bills market now that the yields are moving up.
Last Primary Market Auction, the 1 year bill was heavily oversubscribed and we can expect the same come Wednesday.
No surprise that the stock market is already down 1% this morning.
Who would have thought that the stock market will crash when the crude oil prices are going higher. The political risk is something which is weighing very heavily in the minds of foreign investors.
This is the price we have to pay for not winning the trust of local investors. If Nigerians start buying stocks, this over reliance on foreign investors will reduce. But if only...
reporting for easykobo.com on Monday, Sep 10 2018 from Lagos, Nigeria