FG Owes Local Bonds, T-Bills Investors N13.1trn
https://businesspost.ng/2019/07/17/fg-owes-local-bonds-t-bills-investors-n13-1trn/

seun289:

I want to believe ur bid was for the primary market..
Ur account gets debited prior to d bid day which is normal(first bank) based on ur instructions...
Ur upfront will be credited to ur account once d bid is successful or rather ur 4milly will be reversed and credited if d said bid falls...
Upfront on secondary market is paid same day u instruct ur account to be debited...
This as been part of my experience with first bank so far

Same experience with first bank too

[quote author=skydiver01 post=80353537][/quote]
Thanks

dipoolowoo:
FG Owes Local Bonds, T-Bills Investors N13.1trn
https://businesspost.ng/2019/07/17/fg-owes-local-bonds-t-bills-investors-n13-1trn/

Who can analyse the implication of this enormous debt by FG.

Will they be able to pay or is it a Ponzi scheme?

MASSIVE DROP IN TREASURY BILLS DISCOUNT RATES

TREASURY BILLS AUCTION 17TH JULY 2019

91 DAYS -----9.74%

182 DAYS------10.75%

364 DAYS-------11.13%

civilserva:


Who can analyse the implication of this enormous debt by FG.

Will they be able to pay or is it a Ponzi scheme?

That's EVIDENCE of BAD governance.
No EFFICIENCY.

ONLY good at borrowing at the EXPENSE of unborn GENERATIONS.

At most they will PRINT more PAPER money to offset some DEBTS.

Which inturn leads to HYPER INFLATION since their CASH COW (OIL) is becoming OBSELETE.

Anyway GOOD for TBILERS and BAD for the MASSES.

*ThE OcToPuS*

Very Shocking..... Terrible.

feelamong:
MASSIVE DROP IN TREASURY BILLS DISCOUNT RATES

TREASURY BILLS AUCTION 17TH JULY 2019

91 DAYS -----9.74%

182 DAYS------10.75%

364 DAYS-------11.13%

civilserva:


Who can analyse the implication of this enormous debt by FG.

Will they be able to pay or is it a Ponzi scheme?

According to Trading Economics, the Nigerian GDP for 2019 is around $397-$500 billion (N143-N180 trillion). The amount the FGN owes is roughly 7-9% of GDP...I think it's still sustainable.

skydiver01:
Very Shocking..... Terrible.

We are bleeding in equity
And now this ...from Tbills angle ...
PMB is just a disaster for this country....

skydiver01:
Very Shocking..... Terrible.

We are bleeding in equity
And now this ...from Tbills angle ...
PMB is just a disaster for this country....

skydiver01:
Very Shocking..... Terrible.

Isn't this suppose to be a good thing? I think it shows that the economy is doing well.

The last time TB rates were really high (2016/2017) the economy was a complete mess..the Naira was devalued and foreign investors paid dearly. A lot of them liquidated their positions and ran for the hill..I think this is why the FGN had to raise rates so high to encourage the inflow of foreign money.

Currently, Inflation is around 11.3% so things aren't that bad and it's unlikely the Naira will be devalued again.

I would be worried if TB rates were that high again.

If confidence in the economy is high and a lot of smart money (pension funds, mutual funds, insurance companies, hedge funds etc) are chasing these fixed income securities, rates will inevitably fall.

Nigeria May Consider Issuing 40-, 50-Year Bonds
https://businesspost.ng/2019/07/17/nigeria-may-consider-issuing-40-50-year-bonds/

HeliosHay:


According to Trading Economics, the Nigerian GDP for 2019 is around $397-$500 billion (N143-N180 trillion). The amount the FGN owes is roughly 7-9% of GDP...I think it's still sustainable.

So you still believe all this crabs they are ditching out.
Whereas due to HYPERINFLATION exchange RATE has CRASHED from N1 in the early 80s to N360 per USD which is still not SUSTAINABLE.

dipoolowoo:
Nigeria May Consider Issuing 40-, 50-Year Bonds
https://businesspost.ng/2019/07/17/nigeria-may-consider-issuing-40-50-year-bonds/

this will be BUHARI mortgaging our future for his gain.

feelamong:
MASSIVE DROP IN TREASURY BILLS DISCOUNT RATES

TREASURY BILLS AUCTION 17TH JULY 2019

91 DAYS -----9.74%

182 DAYS------10.75%

364 DAYS-------11.13%

Not too good , make investors dem carry some of the money come stock mkt

PETERiCHY:


So you still believe all this crabs they are ditching out.
Whereas due to HYPERINFLATION exchange RATE has CRASHED from N1 in the early 80s to N360 per USD which is still not SUSTAINABLE.

I'm not saying things are great at the moment, they're not.

I'm just trying to explain why rates are coming down. We cannot expect TB rates to be as high as 2016/2017 levels without also facing the consequences of such unsustainably high rates. Back then the oil price crashed, FGN wasn't making enough money, the naira was eventually devalued, a lot of people lost their wealth and business...it was complete chaos. This is why rates were that high...to compensate for all this.

Today, the conditions are not as bad.

We just need to put these low TB rates in proper context...yes the Nigerian economy is not great at the moment..BUT it's not as bad and chaotic as it was in 2016/2017. Those high rates were justified because the Nigerian economy then was terrible. We got used to those wonderful rates thinking they're normal

Personally, I wouldn't want the Naira to be devalued again and if TB rates all of a sudden started creeping towards 15-18%, I would ask why.

feelamong:
MASSIVE DROP IN TREASURY BILLS DISCOUNT RATES

TREASURY BILLS AUCTION 17TH JULY 2019

91 DAYS -----9.74%

182 DAYS------10.75%

364 DAYS-------11.13%

Rates are plunging.

When is the next primary auction? Can it get lower than this?

2 weeks from today

chigo4u:
When is the next primary auction? Can it get lower than this?

chigo4u:
When is the next primary auction? Can it get lower than this?

of course it can get lower than this

I bided 10.5% with Fidelity and have not been debited till this moment. Does it mean my bid failed ?

lastmessenger:
I bided 10.5% with Fidelity and have not been debited till this moment. Does it mean my bid failed ?

for what tenor?

enque:


for what tenor?

364 days

lastmessenger:
364 days

if so, then it should go through na.
Maybe you should contact them to know what's up

enque:


if so, then it should go through na.
Maybe you should contact them to know what's up

Tomorrow I will see if they will debit

Good evening the great men & women in the house!
Any news from First Bank whether its bid for 364 tenor sailed through today?
I was debited but haven't been credited upfront yet, want to know whether anyone with First Bank has a different encounter. And at what rate was it for the 364 tenor?
Thanks and God bless.

At the NTB auction today, CBN sold N6billion, N27billion and N75billion of the 91-day, 182-day and 364-day bills at respective stop rates of 9.74%, 10.75% and 11.14%. We highlight that the stop rates on the 91-day, 182-day and 364-day bills were 74bps, 95bps and 77bps lower than the last auction.

CBN Massively Cuts Stop Rates of Treasury Bills at PMA
https://businesspost.ng/2019/07/18/cbn-massively-cuts-stop-rates-of-treasury-bills-at-pma/

“The CBN had offered treasury bills worth N107.1 billion for sale, but received subscriptions valued at N473.6 billion from investors.”

Wow... Anyway I think the August 1st rates will be higher

chigo4u:
“The CBN had offered treasury bills worth N107.1 billion for sale, but received subscriptions valued at N473.6 billion from investors.”

Wow... Anyway I think the August 1st rates will be higher

wat will be my interest if I put 300k for 364 days?...Uba or any other bank?

erjo:



wat will be my interest if I put 300k for 364 days?...Uba or any other bank?

33420 @11.14

chigo4u:
33420 @11.14

thanks...