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Breakfast Report - 16 May 2022
| The Week Ahead | |||||
| The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned that the refusal of relevant agencies to pay outstanding debts could lead to another fuel crisis. Should this risk crystallize, a new wave of fuel scarcity could worsen inflationary outcomes as consumers bite under the impact of high PMS and diesel prices. We believe this risk could counter the soothing effects of border re-opening. | |||||
| Equity: Given the sustained buy-side activity seen throughout last week, coupled with the possibility of the CBN raising rates at next week’s MPC meeting, we anticipate a quiet start to the week, as investors remain on the sidelines in anticipation of the Monetary Policy Decision before committing further to equities. | |||||
| Fixed Income: To open the week, we expect the bonds market to trade on a muted note, as investors await the PMA. Similarly, we anticipate tepid trading in the NTB segment as players await the outcome of the MPC meeting for rate direction. | |||||
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