Apakan Research

Rates on T-bills were broadly unchanged at the close of auction last week. SSA Eurobond prices traded on the upside on the heels of cooling U.S inflation rate. Ghana's 2024 budget seeks to strengthen economic gains in 2023, while Nigeria inflationary...

Yields on Treasury bills fell for the first time in 35 consecutive weeks. October CPI release and 2024 budget presentation to drive market activity this week. Ghana is to receive $102.6 million from the AfDB while Angola's inflation rate accelerates...

Ghana: Treasury modifies T-bills auction process to contain rise in yields. Fixed Income: SSA Eurobond prices rallied on Fed's pause. Macroeconomic: Fitch upgrades Ghana's local rating from 'RD', while Nigeria FX reserves rose.

Treasury bill rates continue to rise, albeit at a slower pace. SSA Eurobond prices recorded gains last week despite headwinds. Zambia debt rework shows substantial progress, while Ivory Coast's inflation rate surged in Sep-2023.

Ghana: The treasury trimmed off bids to contain the rise in yields last week. SSA Eurobond prices in red amidst idiosyncratic risks and geopolitical tensions in the Middle East. Nigeria to distribute $1.5 billion cash transfers to cushion citizens on...

The treasury recorded an oversubscription of 25% despite refinancing pressures. Ghana starts formal negotiation with external creditors to unlock the IMF's $600 million. Nigeria's crude oil production rose to a year-high in Sep-2023, while Zambia sec...

Yields on Ghana's treasury bills continued to surge last week, now averaging 31%. Ghanaian authorities require progress on external debt rework to unlock the IMF's $600 million. Angola's economy almost stalled in Q2-2023, while Ghana's private sector...

The treasury recorded an oversubscription of 26% of its target size during the auction last week. Hawkish deliveries from Fed officials rattled the Eurobond market. South Africa's headline inflation reversed course, while Rwanda’s economy expanded fo...

Although yields continued to rise last week, the treasury missed its auction target by 18%. SSA Eurobond prices rose despite a surge in US inflation. Nigeria posted its strongest trade surplus in more than a decade, while Angola's inflation surged fo...

Ghana: Demand for treasury bills remained robust as yields continued to rise. The SSA Eurobond market extended its downward trajectory for another week as the US dollar strengthened. Ghana's S&P PMI increased to 51.9 in Aug-2023, while South Africa's...

Ghana: Demand for treasury bills strengthened, amidst improved liquidity in the market. SSA Eurobond prices retreated last week, giving back some of the gains from the previous week. Consumer prices in Kenya continued to ease whiles South Africa reco...

Ghana: Treasury bills oversubscribed as yields continued to soar. Sentiments in the SSA Eurobond space improved last week amidst the Fed's Jackson Hole symposium. Nigeria's economy expanded by 2.51% y/y in Q2-2023, while the Central Bank of Zambia ra...

Ghana: Yields on treasury bills continued their upward trajectory as the treasury missed its auction target. The SSA Eurobond space ended the week in the negative territory, bearing the brunt of a stronger US dollar. Nigeria's inflation continues to...

Ghana: The treasury recorded an oversubscription of 14% last week while yields continued to surge. SSA Eurobonds exhibited a mixed performance last week amidst US inflation update. African Economies: Egypt's inflation intensified in July, while Kenya...