Monthly Archives: January 2023

Nigeria – Fixed Income Weekly

Inflation declined thanks to base effects in December, but monthly trends show no signs of easing:  The National Bureau of Statistics (NBS) put out the last monthly CPI data for 2022 which showed a moderation in the headline number to 21.34% from 21.47% in the prior month. This was not too surprising given the large […]

Nigeria – Fixed Income: 2022 Review and 2023 Outlook

2022 Review: Bear flattening as short-term rates lead the curve higher Following the deep bear market of 2021, when fixed income yields reversed from the lows of 2020 and bond prices slumped 35%, the year 2022 opened to bullish sentiments occasioned by a tidal wave of liquidity from the uncontested redemption of the January 2022 […]