WEALTH PATH
Inflation Data Jolts Market Sentiment: Core CPI Exceeds Expectations, Prompting Reassessment of Rate Cut Anticipation.
Nigeria Headline Inflation Increased to 29.90% YoY in January 2024; 0.98% higher than the 28.92% recorded in December 2023.
Equities |
This week |
Prior week |
S&P 500 |
+4.94% |
+5.39% |
NGX ASI |
+41.39% |
+36.22% |
Fixed Income |
|
|
Overnight |
16.93% |
19.00% |
Open Buy Back |
16.25% |
15.15% |
1 year T-bill |
16.23% |
16.36% |
5-year bond |
16.50% |
16.02% |
10-year bond |
15.75% |
14.70% |
Currency |
|
|
FX Reserves ($'bn) |
33.37 |
33.37 |
USD/NGN |
1,537.96 |
1,435.53 |
Crude Oil (N/$) |
|
|
Brent |
83.40 |
77.23 |
CPI (%) YoY |
JAN-24 |
DEC-23 |
Headline Inflation |
29.90% |
28.92% |
GDP (%) YoY |
Q3 23 |
Q2 23 |
Real GDP |
2.54% |
2.51% |
Monetary Policy Rate (%) |
18.75% |
Security |
Rationale |
AXA Mansard Money Market Fund |
The fund is currently at c.11.39% as at 19th February, 2024. |
USD FD |
Protects the investor from devaluation of the Naira and exchange rate risk with a return of c.4% - 5%p.a |
Disclaimer:
This newsletter is prepared for informational purposes only and is not intended to predict or guarantee the future performance of any individual security, market sector or the markets. The views and strategies described may not be appropriate for all investors. While every effort has been made to ensure the information provided is accurate, do not rely solely on this information to make a financial or investment decision. Kindly consult your financial adviser before making any financial or investment decision.
AXA Mansard Investments Limited and its employees do not assume any liability or responsibility in relation to the information provided in this material.