What To Expect From The Markets This Week- 120218

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Saturday, February 10, 2018 08:00 AM / Proshare 

Economic Dashboard

 Proshare Nigeria Pvt. Ltd.


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From the Editor’s Desk

The recent economic report published stated that standing lending liquidity (SLF) at the end of the last quarter of 2017 stood at N11.733 billion facility.  The SLF in the period of review was made of N7, 266 billion direct SLF, while N4, 467 billion was converted to as overnight repo. 

However, SLF fell by 1%, thus remaining flat compared to a year on year basis.   Improved micro prudential coupled with fizzling cyclical pressure has stalled the upward trajectory of the SLF window. Stability in the exchange rate fused with reduced cash mist match risk has calmed down the call money.   

Fig 1; Standing lending facility and standing deposit facility from 2012-2017

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Source: CBN

 

Standing deposit facility (SDF) in the same period stood at N2, 494.16 billion, reflective of a 15.67% fall compare to the corresponding rate.  Even though cash mismatch risk has reduced, the natural rate combined with the crowding out policy of the fiscal policy supported the existing downward trajectory in SDF. 

 The Central bank of Nigeria is expected to auction T-bills worth N176 billion, which consist of N6billion, N3o billion, N140 billion, for 90 days, 180 days and 360 days, respectively. Although the auction is to return the market to a zero sum game, we are of the opinion that the market will remain within a mild bearish position with convexity still intact. 

Monday, February 12, 2018

The Institute of Chartered Accountants of Nigeria’s (ICAN) 12th Western Zonal Districts’ Conference themed “Positioning Professional Accountants for Global Relevance” will commence today in Ogun State, while FMDQ OTC Securities Exchange will be hosting the Listing Ceremony for Stanbic IBTC Asset Management Money Market, Bond and Dollar Funds today. 

A two day national workshop for Research Grant Writing and Administration will commence today at the Lagos State University. 

Tuesday, February 13, 2018

The National Bureau of Statistics will release the January 2018 AGO/Diesel Price, PMS/Petrol, HHK/Kerosene and Liquefied Petroleum Gas (cooking gas) monthly report. 

CivicHive by BudgIT will today host a workshop on Creative Communications for CSO in Lagos. 

Wednesday, February 14, 2018

The Central bank of Nigeria (CBN) is scheduled to hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) today. T-Bills worth NGN176.00bn will mature, while an equal amount is expected to be issued in 91-day, 182-day and 364-day instruments. Also, the National Bureau of Statistics will today release the January 2018 Consumer Price Index & Inflation Figures. 

The HR Landscape Outlook Conference 2018 will hold today in Lagos, while Paints & Coatings Manufacturers Nigeria Plc hold its Annual General Meeting. 

Thursday, February 15, 2018

The National Bureau of Statistics will release the Transport Fare Watch and Selected Food Prices Watch today.   

The 137th International Conference on Management, Economics & Social Science- (ICMESS) 2018, will hold today in Lagos, while the 2018 JCI Nigeria southwest conference commences in Osun state. 

The Tourism Innovation and Development Advantage (TIDA) Conference organised by Skyview Communications in partnership with other organisations will hold today in Lagos. 

Saturday, February 17, 2018

The She Leads Africa Festival will hold today in Lagos. 

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 Check out our Events Calendar for event details and follow us on Web, TV, APP and Social Media for updates as the week unfolds. Yours to Serve!

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Contact for Details:

For further information, enquiry or submission of information, kindly contact market@proshareng.com and research@proshareng.com Tel: 0700PROSHARE (070077674273)

 

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