₦airaland Forum

Wonders shall never end... Was expecting this to drop tomorrow but it dropped today....Wonderful... Happy Days... More FGN bond purchase (compounding)

skydiver01:
On a different note, the coupon of the 2034 FGN bond is due today although I expect it to drop tomorrow.

On a different note, the coupon of the 2034 FGN bond is due today although I expect it to drop tomorrow.

Kindly find below the NTB auction results.

spbabt:
Pls what are the figures of tbills for yesterday 13/07/2022

Kindly find below the NTB auction results.

The auction results are available on the Debt Management Office (DMO) website as shown below.

https://www.dmo.gov.ng/fgn-bonds/bonds-auction-results/3950-summary-of-fgn-bond-auction-results-for-june-2022/file

creategist:
Thank you for this. I thought results like this were published just for TBs. Please where can one source such bond results from? Thank you again.

Kindly find below the result of the FGN bond auction referred to below. You will see that the longer the duration to maturity the higher the reopening stop rates. The stop rates are also reflective of yields obtainable for the existing bonds (same maturity) in the secondary market. This is also why the stop rate on the 2042 surpassed its coupon of 13% by 15 basis points.

creategist:
A fresh bond advert is up on the DMO website as we speak with Auction Date of next Monday June 20, 2022 and Settlement Date of Wednesday June 22, 2022. (https://www.dmo.gov.ng/fgn-bonds/bonds-offer-circular/3944-june-2022-fgn-bond-offer-circular/file)

In it there are three offers. Each is worth the same amount of N75bn

13.53% FGN Mar 2025 (10 Year Re-Opening)
12.50% FGN APR 2032 (10 Year Re-Opening)
13.00% FGN JAN 2042 (20 Year Re-Opening)

Can anyone please assist in the simplest way possible, with the correct interpretation of say for instance if one were to key into the third one for this coming auction? Will it simply imply that I would receive 13% of my invested value bi-annually for the next 20 years? If this would not be so, by how much would this 13% be reduced? Your assistance is coveted Gurus. Thank you in advance.

Kindly find below yesterdays NTB auction results.

Chai... Bitcoin currently $20.3k Kai... Na wa ooo

skydiver01:
Am I seeing double? Bitcoin currently at $25.7k? Kai... Na wa ooo

And the Crypto situation gets more enlightening.....
Bitcoin’s plunge spells trouble for the dot-com era entrepreneur who went all in

https://www.cnbc.com/2022/06/14/bitcoin-plunge-spells-trouble-for-michael-saylors-microstrategy.html

Lovely word - schadenfreude. On the contrary, I derive NO pleasure from any investor or anyone getting hurt. That said, whilst I am not remotely interested in exchanging words with you, I will point out the following:

1. Bitcoin is not like Land as an asset class. Bitcoin can disappear into "thin air" overnight. Land cannot.
2. Bitcoin has no intrinsic value. Land does.

I will leave it at that whilst recognising that we are all entitled to our opinions. Wishing you the best and kind regards.

einsteine:
I don't understand the reason for the surprise and the thinly disguised schadenfreude.

Bitcoin fell from 19.3k to 3k between 2017-2018 only to rebound and go up to 67k. Bitcoin fell from 1,000 USD+ in late 2013 to as low as 63 USD in 2014. Sharp falls are normal in Bitcoin's price history. But it doesnt change the fact that there will only be 21 million bitcoins and it cost energy to mine bitcoin (contrary to people thinking it is based on "thin air". Like land, it is scarce and like land, it doesn't provide cashflow. The lack of cashflow means that it cannot be reasonably valued using traditional valuation approaches).

Goodness me...Bitcoin is currently at $23.7k... Chai...

CBN's Standing Deposit Facility (SDF) - essentially CBN's fixed deposit account for banks.

creategist:
Please what do you mean by "SDF"? Thanks in advance.

Totally agree

emmanuelewumi:
1.Business management or career management

2. Investment management

3. Money management.


Investors, employees and entrepreneurs try to do well in the first 2, but very few of them do well in Money Management.

Having more than 10% of your Networth in a risky asset that doesn't have a pedigree is poor money management

"Interestingly surprised" is how I will describe it. Why? because whilst I expected it to crash to $ ZERO, I did not expect this fall so soon. More downside clearly on the cards.

BTW it has not and will never constitute 0% of my assets... I don't even know how to go about purchasing any digital assets because I am not interested. But as ever, best of luck to digital asset investors (crypto et al).

ositadima1:
Why are you surprised?

Last year bitcoin fell by over 50% from its highest point to $29.7k (maximum drawdown as it recovered quite a beat), why dat happened I am not sure, wasn't closely following the news.

With this years multiple issues - war in Ukraine, high inflation rates, increasing interest rates, high crude price etc - it is no brainer that bitcoin will be impacted.

We can reasonably project a 50% drop at some point this year as well (probably more). That should see bitcoin at $22.4k. That's where I would start buying in trenches.

Mind you, like I said before on this thread crypto shouldn't be more than 15% of ur total assets.

Am I seeing double? Bitcoin currently at $25.7k? Kai... Na wa ooo

Kindly find below yesterdays NTB auction results.

Kindly find below today's NTB auction results.

Re: the bolded below.
Its a bank. They are lending (investing) it by giving out loans at more than double the rates offered for the fixed deposit (FD) as well as earning loan arrangement fees. They are making money from their FD rate offer. In fact, the bank probably already has loan requests it wants to fund but cant because of CBN's minimum CRR - so it has to source the funding by attracting more deposits and in turn offering more attractive deposit rates. Personally, I like the 'no liquidation' condition before maturity - clever bank

Dum20:
This raises a lot of questions.

The rate is really high, higher than treasury bills offered by government. The same rates as Commercial Papers.

Where are they investing this money?

It seems something is cooking somewhere.

Further update.

$3 billion in bitcoin was sold in a last-ditch attempt to save UST stablecoin from collapse

https://www.cnbc.com/2022/05/16/what-happened-to-the-bitcoin-reserve-behind-terras-ust-stablecoin.html

skydiver01:
More than $200 billion erased from entire crypto market in a day as sell-off intensifies

https://www.cnbc.com/2022/05/12/bitcoin-btc-price-falls-below-27000-as-crypto-sell-off-intensifies.html

Sadly, I imagine so.

AngelicBeing:
No single pim because millions of crypto investors are licking the dust, let me take my dollars and go back to hide on top Mount Everest were l have been living all this while, when normalcy returns, I will be back

Dum20:
Why not buy the dip?

I always hear "Buy the dip, Buy the dip"

Sir, you are quite right.... How times change

ojesymsym:
There was a time in this life that a post like this would have opened up a series of lectures on why certain people were archaic in their thinking, why crypto was the next best investment and those pleading for caution were old aged men wearing googles, yet 7 days after you made this post, no single pim.
Na wa, this life non really balance.

Sir, I love your sarcasm...

emmanuelewumi:
Be greedy when others are fearful, this is the time to accumulate and average down.

More than $200 billion erased from entire crypto market in a day as sell-off intensifies

https://www.cnbc.com/2022/05/12/bitcoin-btc-price-falls-below-27000-as-crypto-sell-off-intensifies.html

Kindly find below yesterdays' NTB auction results.

Kwarect

Cyberknight:
Fossil fuels are still far from dead.
The so-called alternative fuel for motor vehicles - electricity or hydrogen - still require fossil fuels to generate in most cases.
Solar and wind, with current technologies, do not form an appreciable part of most countries' energy mix. The UK for instance has gone far with wind, but on a good windy day it doesnt go much beyond 30% of generation. Still burning plenty of gas, many European countries are still burning coal, even.

Hence Putin's shakara.

Crypto exchange Binance among investors to bail out victims of $615 million heist

https://www.reuters.com/business/finance/crypto-exchange-binance-among-investors-bail-out-victims-615-mln-heist-2022-04-06/

Be careful with your crypto investments.

Yes oooo

OgogoroFreak:
"Our"?

Don't be sorry for laughing... Even though its quite laughable in some sense... Although one good outcome is it is reducing the domestic cost of borrowing for our wonderful country Nigeria.

OgogoroFreak:
Lol.

I'm so sorry for laughing.

Today's NTB Auction Results.

Missed you too... pop by more often

Lazyyouth4u:
Good day all. Long time. Why this place just dry na? Where Oga Emma? What about the audio big boys and billionaires Ogogorofreak, Xiaoli, Ahiboilandgas? Abi dem dey audio billionaires convention??

Anyway just passing by. I don waka

Tranquility2345:
Guy how are your bitcoins performing? What about the ashawo house? Update us please.