March 29, 2024/Coronation Economic Note The DMO held its monthly auction of FGN Bonds on Monday (18 March ’24). It offered N450.0bn but raised N608.8bn through new issuance of the 19.94% FGN MAR 2027 and re-openings 18.50% FGN FEB 2031, and 19.00% FGN FEB 2034. The bids were allotted at […]
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Coronation Fixed Income and Exchange Rate Update
March 29, 2024/Coronation Research Summary Opening market liquidity was reported at N79.7bn on Friday (22, March ‘24). Call, overnight, and repo rates closed within a range of 5% – 28% as rates in the money market moderated. Last week, the average NTB yield declined by -91bps to close at 17.7% […]
Oil Closes the Month on a Strong Note
March 29, 2024/Oilprice.com Michael Kern Editor, Oilprice.com The recent rally in oil prices is pushing the benchmarks towards a quarter of gains thanks to the OPEC+ output cuts. Friday, March 29th 2024 The oil markets are increasingly putting their trust into OPEC+ production cuts to remain in place throughout this year, […]
