Market Update | Treasury News |
As at Friday, March 16, 2012 |
|
Global Market Watch |
Currencies - USD rates against major currencies: |
| Euro - USD: |
1.3178 |
| Pound Sterling - USD |
1.5833 |
| USD - Swiss Francs: |
0.9158 |
| USD - South African Rand: |
7.5100 |
| USD - Yen: |
83.34 |
|
USD - Money Market Rates (%) |
Tenor |
Rates (%) |
| 1M Libor |
0.24 |
| 2M Libor |
0.35 |
| 3M Libor |
0.47 |
| 6M Libor |
0.74 |
| 1Y Libor |
1.05 |
| |
|
|
Capital Markets - All Share Index |
| DOW |
13,256.39 |
+0.03% |
| FTSE |
5,964.12 |
-0.39% |
| JSE |
34,221.62 |
+0.02% |
| NASDAQ |
3,057.55 |
+0.04% |
|
| |
Physical FORM M Approval Rate |
(FORM M APPROVAL ONLY ) |
| USD |
155.0600 |
|
| EUR |
202.3688 |
|
| GBP |
243.1496 |
|
| JPY |
1.9266 |
|
| ZAR |
20.8392 |
|
| |
|
|
|
|
|
|
|
FX Market Watch |
Foreign Exchange Market Rates |
|
CLOSING USD/N FX RATES |
Market Segment |
Bid |
Offer |
| CBN |
155.06 |
156.06 |
| INTERBANK |
157.50 |
157.60 |
| SPOT NIFEX |
- |
- |
| PARALLEL |
158.00 |
160.00 |
|
|
|
|
 |
The dollar weakened against most of its major peers after U.S. inflation data fueled speculation Federal Reserve policy makers will
maintain economic stimulus. |
|
Oil increased, paring this week’s decline, on speculation that fuel demand will climb with the economic rebound in the U.S., the world’s
biggest crude- consuming country |
| |
|
WDAS: - Market Update |
| Zenith Bank WDAS Rate: 158.16 |
|
14/03/2012
Amount offered: $200.00m
Total Amount Sold: $200.00m
Weighted Average: 156.12
No. of Banks: 20
|
|
The Naira appreciated by 0.19% to close at 157.60 against the dollar due to dollar sales by oil companies and foreign direct investments
by portfolio investors ahead of the Treasury bill auction next week. Oil companies sold about $205m to the interbank market. |
|
In the coming week, the Naira may lose value as dollar liquidity thins out except there are significant dollar inflows from oil companies or
foreign investors. |
|
| |
WDAS-FWD AUCTION |
Tenor: 30days
Demand: $15.38m
Sold: $15.38m
Cut off rate: 1.7710
Maturity: 02/04/2012
|
Tenor: 60 days
Demand: Nil
Sold: Nil
Cut off rate: Nil
Maturity: Nil
|
Tenor: 90 days
Demand: Nil
Sold: Nil
Cut off rate: Nil
Maturity: Nil
|
|
| |
Bond Market Weekly Review- (March 12 – 16, 2012) |
-
Indicative Yields on 3YR,5YR, 10YR AND 20YR BONDS
|
| Bond Name |
Term To Maturity |
Closing Yield |
| 10.50% FGN MARCH 2014 |
2.00 |
15.77% |
| 4.00% FGN APRIL 2015 |
3.08 |
15.97% |
| 10.70% FGN MAY 2018 |
6.21 |
15.86% |
| 7.00% FGN OCT 2019 |
7.64 |
16.05% |
| 16.39% FGN JAN 2022 |
9.87 |
15.96% |
| 10.00% FGN JULY 2030 |
18.35 |
14.47% |
|
|
| Bond Name |
Opening Yield |
Closing Yield |
| 10.50% FGN MARCH 2014 |
15.69% |
15.77% |
| 4.00% FGN APRIL 2015 |
15.87% |
15.97% |
| 10.70% FGN MAY 2018 |
15.85% |
15.86% |
| 7.00% FGN OCT 2019 |
15.93% |
16.05% |
| 16.39% FGN JAN 2022 |
15.91% |
15.96% |
| 10.00 % FGN JULY 2030 |
14.26% |
14.47% |
|
|
The FGN bonds market started the week on a quiet note with general stability in bond prices, this however turned bearish by mid-week
as yields inched back up. |
|
The increase in yields was due to some selling-off at the long-end of the yield curve with the 10.00% FGN July 2030 maturity being the
most active.
|
|
In the coming week, the Monetary Policy Committee (MPC) is expected to meet. We expect market to remain quiet till the MPC decisions
are made available. This will set the tone on market activity for the rest of the week. |
|
Money Market Watch |
-
Selected Macroeconomic Indices
|
Inflation |
| Yr/Yr ∆% |
12.60% |
(Nat. bureau of stat Jan. 2012) |
| 12mth Average |
10.90% |
(Nat. bureau of stat Jan. 2011) |
|
MPR |
12.00% |
|
| |
CURRENT WEEK |
PREVIOUS WEEK |
% CHANGE |
| |
16/03/2012 |
09/03/2012 |
|
NSE
ASI |
20,824.25 |
20,950.01 |
-0.60% |
MKT
CAP |
6,571,934,342,119.69
|
6,611,624,573,055.92 |
-0.60% |
|
|
|
|
Nigerian Treasury Bills Discount Rate |
Tenor |
|
Rates (%) |
| OBB: |
|
14.00 |
| Primary Market(T/bills): |
91 days (PMI): |
14.8149 |
| |
182 days (PMI): |
15.4870 |
| |
364 days (PMI): |
15.5700 |
| Primary Market(T/bills): |
|
|
| |
91 Days (SEC): |
14.92/14.67 |
| |
182 Days (SEC): |
15.38/15.13 |
| |
1 Year (SEC): |
14.90/14.65 |
| |
|
|
| OMO |
364 Days |
15.570 |
| |
- |
- |
| |
- |
- |
| |
|
|
| FGN Bonds: |
7 yrs 8mths |
16.16 |
| (Primary) |
9 yrs 11mths |
15.893 |
| |
Commodity Prices |
|
|
|
| Light Crude |
(May 2012 deliveries) |
$105.44pb |
(+0.79) |
| Brent Crude |
(April 2012 deliveries) |
$124.49pb |
(+1.89) |
| Natural Gas |
(April 2012 deliveries) |
$2.32mbtu |
(+0.04) |
| Cocoa |
(May 2012 deliveries) |
$2,222.00 |
USD/Ton |
| |
|
Nibor Rates |
Tenor |
Rates (%) |
| Call |
15.63 |
| 7 D Nibor |
16.00 |
| 30 D Nibor |
16.38 |
| 60 D Nibor |
16.71 |
| 90 D Nibor |
16.00 |
|
|
|
|
This publication is strictly for information purposes only. Zenith Bank Plc and its employees make no representation as to the accuracy and completeness of the information contained in this publication. Therefore we accept no liability for any loss that may arise from the use of such information. For further enquiries/information on this publication, please contact Egondu Uzo-Ogbonnaya, Chinyere Emuchay at the Treasury Group on 234-1-2783033 and 2782327; Eunice Sampson, Olurotimi Arowobusoye at the Research and Economic Intelligence Group on 234-1-2781049 and 2781051. |
