FBNQuest FI-FX Daily Watch 17 April 2018

FBNQuest FI-FX Daily Watch 17 April 2018

Opening market liquidity on Friday was N476bn (positive). Interbank rates closed within a range of 2%-8%. There was no OMO auction on Monday. On the secondary market for NTBs, there was a dip in yields for selected maturities.

The FGN bond market was active, and yields narrowed across the curve. As for the Eurobond market, yields picked up marginally for the sovereigns.

The CBN’s daily fx intervention was again US$0.5m, at N305.10. There was a wholesale fx SMIS. Turnover at the NAFEX soared from US$78m on Friday to US$335m. Indicative rates ranged from N327 to N361. Dallas Fed president Robert Kaplan said yesterday that he saw Fed funds at 2.50-2.75% as neutral, adding that he was eager to avoid a regularly inverted yield curve. The 10-year USTs are currently yielding 2.85%.

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Ezeadichie Onyeka Michael is the Co-Founder of Haelsoft, a Professional Services Company in Nigeria that provides Information and Technology Services for small and big size companies in Nigeria(Africa). He is an Entrepreneur and Venture Capitalist with Expertise in Web Technology and Digital Marketing. He has developed & Implemented Digital Marketing Strategies(Campaigns) for top brands across sectors in Finance, Telecommunication, Ecommerce who operate in the African market. His professional experience includes key roles at Google Business Group(Nigeria), Google Women on the Web (Nigeria), Edubridge Consultant and Wild Fusion where he has trained over 500 Entrepreneurs on how to use various Web Technology products to succeed online. Customer centricity, User Experience, Conversion optimization are 3 pronged framework he applies around the often-frenetic world of web analytics to ensure that clients stay competitive in the market. He believes that investing in talent is the key to long term success for brands across Nigeria (Africa).

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