Monthly Fixed Income Market Report | August 2024
Breaking the Mold Contrary to our bearish expectations, Nigeria’s fixed income market exhibited remarkable strength in August 2024. Despite concerns about rising yields due to economic pressures, both the Nigerian Treasury bills (NT-bills) and FGN bonds segments witnessed robust demand. The NT-bills market saw a significant decline in average yields, decreasing by 397bps month-on-month (MoM) […]
Monthly Fixed Income Market Update | April 2024-Bearish Streak Sustained
Higher Yields Propelled by Interest Rates The Nigerian secondary Fixed Income (FI) market continued its bearish trend in April 2024. The Nigerian Treasury bills (NT-bills) market witnessed a significant negative performance, as the average yield surged by 454bps Month-on-Month (MoM) to close at 22.20%, reflecting the high interest rate environment. In contrast, the FGN Bond […]
March 2024 Monthly Fixed Income Market Update | Where are Yields Rising to?
Where are Yields Rising to? At the end of March 2024, the secondary Fixed Income (FI) market continued to note upward pressure on yields on a Month-on-Month (MoM) basis. The average yield in the Nigeria Treasury bills (NT-bills) market increased by 76bps MoM to close at 17.66%. Similarly, the FGN Bond market closed negative as […]
Monthly Fixed Income Market Report | February 2024
Monthly Fixed Income Market Report In February, the Nigerian fixed income market experienced a significant increase in yields. The FGN bond market average yield surged by 273bps Month-on-Month (MoM) to close at 17.22%, while the average yields in the Nigerian Treasury Bills market jumped by a significant 775bps MoM to settle at 16.90%. Overall, the […]
Monthly Fixed Income Market Report | January 2024
Monthly Fixed Income Market Report The Nigerian Fixed Income Market started 2024 on a bearish note in January, with average yields rising across board. The FGN bond market saw the average yield increase by 36bps Month-on-Month (MoM) to settle at 14.49%. Similarly, the Nigeria Treasury Bills market experienced a significant 286bps MoM surge in average […]
Monthly Fixed Income Market Report | November 2023
Monthly Fixed Income Market Report The FGN bond market ended the month on a bearish note with the average yield increasing by 40bps Month-on-Month (MoM) to close at 15.72%. Conversely, the Nigerian Treasury Bills Market concluded the month on a bullish note as the average yield declined by 72bps MoM to settle at 10.21%. Overall, […]
Monthly Fixed Income Market Report | October 2023
Monthly Fixed Income Market Report The FGN bond market concluded the month with a negative performance, with the average yield increasing by 88bps month-on-month (MoM) to settle at 15.33%. Similarly, the Nigerian Treasury Bills Market closed the month bearish, as average yield rose by 2.99% MoM to close at 10.93%. Overall, the secondary Fixed Income […]
Monthly Fixed Income Market Report | September2023
Monthly Fixed Income Market Report The FGN bond market closed the month bearish as average yield surged 38bps Month-on-Month (MoM) to settle at 14.44%. Similarly, the Nigerian Treasury Bills Market closed the month bearish, as average yield went up by 67bps MoM to close at 7.94%. Overall, the secondary Fixed Income market closed on a […]
Monthly Fixed Income Market Report | August 2023
Monthly Fixed Income Market Report The FGN bond market closed the month negative as average yield surged 96bps MoM to settle at 14.06%. Similarly, the Nigerian Treasury Bills Market closed the month bearish, as average yield went up by 15bps MoM to close at 7.27%. Overall, the secondary Fixed Income market closed on a negative […]
