January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields

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The FGN bonds market held its breath in today’s session as traders anticipated the FGN Bond primary market auction results. Yields across the benchmark curve remained mostly unchanged from the previous day, with improved offers at the mid– to long–end of the curve, as sentiments for a bearish auction result amplified throughout the trading session.

Consequently, yields expanded by an average of c.4bps across the benchmark curve.

At the bond auction, the DMO raised a total of c. N122.36bn (81.57% of the total offered amount) across the three tenors offered despite a total bid-to-cover ratio of 2.12X. Stop rates reflected secondary market trading levels, albeit the 2035 and 2045 papers closed c.187bps higher than the December auction stop rates.

We expect a cautious trading session opening tomorrow, as the market reacts to the FGN bond auction results. 

Treasury Bills

We saw improved trading activity in treasury bills space supported with an active demand for mid-and long-dated bills, which were offered at attractive levels in the market. August, September and October 2021 bills saw most of the market volumes with trade crossed at 0.75%,0.95%, and 1.00% respectively.

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04th January 2021 bill was also in high demand during today’s session, trading at 2.10% at the early hours of the session, albeit buyer’s appetite waned gradually when offers began to drop below the 2% mark.

We expect local banks to continue to cherry-pick on any available bill offered at an attractive level while awaiting long-dated OMO bills supply by offshore participants from their anticipated OMO winnings from tomorrows auction. 

Money Markets

OBB and OVN rates increased by an average of c.31bps, closing the day at 0.50% and 1.00%, respectively, despite the market being awash with liquidity. System figures are estimated at c.N586.24B positive closing the day.

Read Also:  T-bill Yields Expand As Funding Pressures Persist, DMO Raises 1-Year Rate At PMA

We expect the funding rates to remain steady tomorrow as we do not anticipate any significant funding activity by local banks. 

FX Market

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The I&E FX Market received a good boost from exporters as we saw intra-day trading volumes jumped up by over 234% to close at c.$89.50mio. Despite this support, we saw the closing rate depreciate by N0.82k while the bid range amongst banks widened by approximately N19.00 D/D.

At the parallel markets, The cash segment depreciated by N1.00 due to the FX supply shortage, although the transfer segment stayed flat at N485/1$. 

Eurobonds

The NIGERIA Sovereign tickers continued on a bullish run from yesterday’s session opening and staying green on most of the bonds offered.  We saw few aggressive bids on most bond papers, especially for the short and longer-dated ones, consequently causing the yield to compress D/D by an average of c.2bps across the curve.

At the SSA space, Angola’s bond continued to gain positive vibes on the back of increasing oil prices (Brent crude $56.65) and a peaceful Presidential inauguration ceremony in the USA.

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At NIGERIA Corps, tickers traded in a similar pattern as the sovereign papers, with just one of the tracked bonds moving in opposite directions based on market interest. By and Large, we noted the most significant movement on FIDBAN 22s and SEPLLN 22s, which compressed by -c.22bps and -c.71bps, respectively.

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January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur

TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure...

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

Battery life and storage space


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

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Mobile phone technicalities


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

TECNO reveals how the highly anticipated TECNO CAMON 17 Pro measure against its competitors

HONG KONG SAR - Media OutReach - 14 May 2021 - Consumers nowadays are more than spoilt for choice, in fact, many people are affected by 'information paralysis', that is, having too much information to effectively decide, often resulting in either a wrong decision or a poorly evaluated one. In this article, TECNO helps you to make good decisions amongst the three latest Android phones. They are TECNO CAMON 17 Pro, Samsung A51 and Redmi Note 9 Pro.

All three brands vary in terms of design, features, and functionality. TECNO, an increasingly globally popular brand, is a new generation of smartphone brand today with tasteful artistic design and contempary cutting-edge camera technology. Samsung and Redmi have been fan favourites, and their smartphone models are often popular amongst those most price-conscious consumers.

Camera function - front and rear cameras


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur


The consumers nowadays are very savvy in understanding the technology and features that goes into each smartphone model. One of these considerations is the camera capabilities and the supporting software. TECNO CAMON 17 Pro clear winner with a 48 MP front camera, while both the Samsung A51 and Redmi Note 9 Pro cameras are at 32 MP and 16MP respectively, hence allowing the user of TECNO CAMON 17 Pro to capture selfies with quality that is comparable to even rear cameras on some smartphones. Considering the rear camera, TECNO CAMON 17 Pro and Redmi Note 9 Pro are equipped with 64MP rear ultra quad camera, while the Samsung A51 maxes out at 48MP.

What is more fascinating is that the TECNO CAMON 17 Pro comes with trademarked TAIVOS technology, which stands for TECNO AI Vision Optimization Solution. It provides users with extremely good visuals, even in low-light environments. TAIVOS can blur out the clutter in the background and optimize image clarity, thereby enhancing night photography effects. Therefore, making it difficult for other mobile phones to bring users a brighter experience in dark environments. The TECNO CAMON 17 Pro is great for anyone who loves to take selfies as keepsakes. The CAMON 17 Pro's front cameras are just as outstanding as its rear – TECNO is a pioneer in this industry with a 48MP front camera. The functions of TECNO CAMON 17 Pro are smoother than similar products with both multi-camera and AI camera modes, providing breath-taking visuals.

Battery life and storage space


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur


Powerful cameras need equally lasting battery and storage space. The TECNO CAMON 17 Pro has enough space for just about anything with 256GB ROM + 8GB RAM whereas the Samsung A51 and the Redmi Note 9 Pro has only 128GB ROM + 6GB RAM respectively, which is half of what the TECNO CAMON 17 Pro can store.

In addition, the TECNO CAMON 17 Pro has an enormous 5000mAh battery so you do not need to worry about your phone not being able to function when you need it most. The Samsung A51 has a smaller battery whereas the Redmi Note 9 Pro has a slightly bigger battery of 5020mAh, but that difference is negated by CAMON 17 Pro's flash charging technology as the phone's battery can be charged faster. And the 33W fast charger of CAMON 17 Pro enable a quick charge of up to 70% in just 30 minutes, which is an upgrade compared to the 15W charger of the Samsung A51 and 30W charger of Redmi Note 9 Pro.

Mobile phone technicalities


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur


When it comes to visual real estate, size does matter. Amongst the three smartphone models, the Samsung A51 offers the smallest screen real estate, a 6.5 inches full HD screen while the Redmi Note 9 Pro and TECNO CAMON 17 Pro have bigger screens at 6.67 and 6.8 inches, respectively. Here, the TECNO CAMON 17 Pro does have an edge over the rest and what's more, the 90Hz smooth refreshing rate of TECNO CAMON 17 Pro enable the users never worry about any animation rolling issues on the phone, the 90 Hz super-high refreshing rate offers a smooth, snappy and refreshing experience. The CAMON 17 Pro's full HD mobile phone provides the user with more ease in controlling as well as a more comprehensive view of the mobile games and videos on the phone. Additionally, the TECNO CAMON 17 Pro has an operating system of Android 11 whereas the Samsung A51 and Redmi Note 9 Pro are only at Android 10.

So which phone would you prefer after reading the comparisons? After our comparisons, the TECNO CAMON 17 Pro stands out for the young, adventurous generation that is looking for a phone that can not only perform the basic functions well, but also have additional tools that add so much value to a phone. Redmi Note 9 Pro performed slightly worse in the front camera, fast charger and the screen, which could be a second choice with limited budget, while Samsung A51 stands out with its brand impact, and with no other obvious strength.


January 2021 FGN Bond Auction Results: DMO raises 81.57% of planned N150Bn as Investors demand higher yields - Brand Spur
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