Monthly Archives: April 2019

Nigeria Fixed Income Weekly

The week that was (April 1-5): Rates rise in response to CBN tightening and new 30-year bond sale CBN shows its hawkish hand: In the prior week, I noted that the CBN’s dovish twist at the MPC, where it cut its key policy rate to 13.5%, was likely a non-credible symbolic one. I did not […]

Nigeria Fixed Income and FX Market Weekly

The week that was (March 25-29): CBN surprises with a volte-face on interest rates at MPC The incredible rate cut: The big news last week was the 50bps surprise cut in MPR at the end of March 2019 MPC meeting. In prior week, I noted that the CBN re-introduced the 1-year OMO bill at an […]