Tag: bond market
The move by the Central Bank of Nigeria to restrict foreign exchange for maize imports will be negative for the margins of affected corporates, that’s according to Rand Merchant Bank. The CBN had earlier this week issued a directive stopping the processing of form M for corn imports in a move it says will stimulate local production. Feyisike Ilemore, Research Analyst at RMB Nigeria joins CNBC Africa for more.
Moody’s downgraded South Africa’s sovereign credit rating to junk status on Friday evening and this has left has left government concerned and trembling in its boots to what extent that this might have on the economy. The downgrade coupled with the COVID-19 fears is bringing much stress to the rand as well as the markets. Joining CNBC Africa to unpack it all is Rashaad Tayob, Fund Manager at Abax Investments and Jacques Celliers, CEO of FNB.
Traders say they expect Nigeria’s bond market to remain relatively weak as offshore investors remain on the side-lines. To discuss this and other activities in Nigeria’s money markets, Bukky Aregbesola, Head of Fixed Income at Access Bank joins CNBC Africa.
Access Bank says it expects Nigeria's bond market to remain positive as the risk appetite for investors improves. With Treasury bills worth 208.6 billion naira maturing today – for a preview of today's trading session at Nigeria's money market, Olugbenga Sonaike, Fixed Income Trader at Access Bank joins CNBC Africa for more.
Why fund managers are bullish on SA bonds vs global equities