The bond market opened the week on a slightly bearish note, following slight sell on the 28s (c.15.28%) and 34s (c.15.23%). Bids were also weaker on the shorter end of the curve (21s and 22s), prompting a c.7bps uptick in yields d/d.
Nigerian Stock Market closed the month of September 2018 further in the red zone as NSEASI sheds -5.97% as against -5.86% loss recorded in the month of August 2018 while market YTD performance dipped further in the negative territory as it stood at -14.32% at the end of the month under review.
Now that cryptocurrencies such as Bitcoin have plummeted from last year's absurdly high valuations, the techno-utopian mystique of so-called distributed-ledger technologies should be next. The promise to cure the world's ills through "decentralization" was just a ruse to separate retail investors from their hard-earned real money.