Forex: Kenya’s foreign exchange level drops below the central bank’s statutory requirement. Fixed Income: Ghana shows signs of fiscal constraint, but fiscal distress risks remain acute. Macroeconomic: Oil’s contribution to Nigeria’s economy has almos...

Forex: Kenya’s foreign currency reserves plunge to a multi-year low. Fixed Income: Kenya’s Eurobond rally gains momentum after National Treasury says it plans to cut the budget deficit. Macroeconomic: Inflation in Ghana continues to surge as currency...

Forex: The Zambian kwacha is now significantly overvalued. Fixed Income: Nigerian CDSs rise on the back of debt restructuring uncertainty. Macroeconomic: Thinning global market liquidity is amplifying fiscal pressures in Africa.

Forex: USD is significantly overvalued. Fixed Income: Market implied probability of a default in Ghana has surged in recent months. Macroeconomic: IMF downwardly revises its global growth forecast.

Forex: Kenya’s wide current account deficit continues to weigh on the shilling. Fixed Income: Sell-off in Zambian Eurobonds has halted for now. Macroeconomic: Angola and Nigeria are major contributors to the OPEC+ oil supply gap.

Forex: Egyptian pound is flirting with a break above 20.0000 to the USD. Fixed Income: Sell-off in African bonds deepens as market conditions worsen. Macroeconomic: While most African central banks are hiking, the Bank of Angola decided to cut rates....