Category West African Fixed Income
Nigeria Fixed Income Weekly
The weeks that were (February 15-March 5) Apologies for the three-week hiatus, but back to regular programming. In between yields continued to move higher, in line with global bond yields sell-off, on concerns over higher fiscal issuance. But my suspicion is that more fundamental factors could start to re-assert themselves on market movements. Forced […]
Nigeria Fixed Income Weekly
The Week that was (December 3-7): – CBN’s low tolerance for NGN liquidity pushes Naira yields higher CBN cranks up its liquidity tightening gears, pushing interest rates higher: As I noted last week, the CBN’s response to exchange rate pressures at the parallel market was to ramp up its mop-up of Naira liquidity in the […]
Ghana Fixed Income Weekly
Before I press ahead I would like to apologise for skipping the Ghana FI weekly last week, so this week’s version will recap events over the last two weeks. The fortnight that was (March 19-30) PMA rates closed March lower on robust demand: Relative to planned offer of GHS2.2billion, the Government of Ghana (GoG) sold […]
Ghana Fixed Income Weekly
The Week that was (March 12-16) GoG upsizes debt issue amid robust investor demand: Last week, the Government of Ghana (GoG) took advantage of robust subscription to raise GHS916million worth of debt – nearly double issuance in the prior week and above target of GHS757million. Demand was robust for the 3M and 2-year papers with […]
The West African Fixed Income Weekly – Ghana Edition
After over six months of providing weekly updates on Nigerian fixed income, today I will begin expanding coverage to include developments across the wider West African sub-region and in particular Ghana and the West African Economic and Monetary Union (WAEMU) franc region which is made up of eight countries (Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, […]
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