First thoughts for 2024
Welcome to the New Year. 2023 was an extraordinary year, with general elections bringing an inflection point to markets thanks to a reforming presidential administration.
Welcome to the New Year. 2023 was an extraordinary year, with general elections bringing an inflection point to markets thanks to a reforming presidential administration.
In July, we examined the extent to which Nigerian pension funds hold NGX Exchange-listed equities and concluded that they were warming again to stocks.
In many ways, the MEP is an easy portfolio to manage (even if we do pay notional commissions and respect actual market liquidity when making notional trades)
We heard no official announcement that market interest rates would rise, but market interest rates, notably Nigerian Treasury Bill (T-bill) rates, are rising decisively.
Federal Government of Nigeria (FGN) Eurobond yields have actually been tightening recently. What are the lessons?