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US monetary conditions are the tightest since 2009, financial conditions the tightest since 2009, and as Moody’s reports today Liquidity Stress is at its worst since February 2010 – all forewarning of a notable rise in defaults in 2016… and what can the Fed do? Worryingly, as Credit Suisse explains, US monetary conditions are now […]

With Nikkei 225 down 800 points from post-NIRP highs and USDJPY having almost roundtripped, there is little wonder that Japanese government bond yields are collapsing to imply considerably deeper NIRP to come. With 10Y JGBs on the verge of a negative yield, 2Y yields are now at -17bps (well below Kuroda’s -10bps level). Japanese bank […]

Willie Sutton was one of the most infamous bank robbers in American history. Over three decades, the dashing criminal robbed a hundred banks, escaped three prisons, and made off with millions. Today, he is best known for Sutton’s Law: Asked by a reporter why he robbed banks, Sutton allegedly quipped, “Because that’s where the money is.” Sutton’s Law explains something unusual about Bernie […]Read More

By EconMatters The modern era of financial markets means that basically there are two assets: Risk On and Risk Off. The last two days we have been in Risk Off mode. We might switch to Risk On mode if the economic data reports coming support an optimistic view of the economy. [embedded content] Average: Your […]

Well, don’t say we didn’t warn you. Just yesterday, in the course of documenting the largest ponzi scheme the world has ever known (in terms of number of victims), we remarked that if China’s beleaguered masses needed yet another excuse to rise up and stage massive street protests, they got one in the form of […]Read More

Guinness Nigeria Plc has appointed former Minister for Communications Dr. Omobola Johnson as a director of the company. The company confirmed this through a press release sent to the Nigerian Stock Exchange. Dr Johnson who served in the Government of Goodluck Jonathan until May 2015 is a partner with a Venture Capital firm called TL […]

Nigeria is set to finally end crude oil swap deals in March according to an article from Reuters. It will be replaced with “Direct Sale-Direct Purchase system that will now have the NNPC directly sell crude oil to refiners and purchase refined oil products from them. President Muhammadu Buhari on 13th August cancelled the controversial […]

Tiger Branded Consumer Goods Plc released its financial results for the 3 months ended 31 December 2015. The result showed that revenue rose marginally by 0.07% from N10.66 billion in 2014 to N10.67 in 2015. The company made a loss before tax of N975 million in Q1 2015, which was a 67% reduction, compared to […]

The governor of Ondo state, Olusegun Mimiko today announced the sum the of 118.9 billion for fiscal budget of the year, Daily post reports. The state appropriation bill is one of the most anticipated in the country. It will be recalled that Ondo State Board of Internal Revenue Service, revealed that the state generated not […]

A new study released by professional services firm, PriceWaterhouseCoopers, PwC indicates that Nigeria will lose 30 per cent of its GDP to corruption by 2030, the Vanguard has reported.This was disclosed by PwC’s Country and Regional Senior Partner, West Market Area, PwC, Mr. Uyi Akpata when he led a PwC team to submit the report […]

The Central Bank of Nigeria (CBN), has told commercial lenders to fund their naira accounts on Tuesday to enable them participate in a currency intervention on the interbank market on Thursday, traders revealed citing a message from the apex bank. The CBN however did not disclose how much it would sell, but a trader interviewed […]

The Nigerian Stock Exchange All Share Index (NSEASI) appreciated marginally by 0.03% on Tuesday to close at 23,834.87. Here is a snapshot of trading today: ASI: 23,834.87 DEALS: 3,451 VOLUME: 313,677,000.00 VALUE: 2,411,590,393.40 CAP: 8,197,256,322,714.02 Here are the top 5 gainers for the day; SEPLAT opened at N203.96 and closed at N214.15 gaining 5% LEARNAFRICA […]Read More