Nairametrics| The yield on FBN Money Market fund rose to 17.21 percent on March 15th, the highest since 2013 when Quantitative Financial Analytics began monitoring the fund. That comes very close to the highest yield on offer by Stanbic IBTC Money market fund which stands at 17.6%. With inflation rate falling to 17.78%, investors can soon boast of real return on their investment if the trend continues. Also with the increase in yield, FBN money market fund is poised to solidify its position as the second largest mutual fund as it is expected that the increasing yield will attract inflows from yield hunting investors.
Source: Quantitative Financial Analytics
The yield on the 20-year FGN bond is also higher at 16.20 percent while the yield on the 10-year FGN bond is at 15.80 percent. Yields move inversely to prices.
Elsewhere in the world, the Federal Reserve bumped up interest rate in the US by 0.25% on Wednesday, making it the third time that the FED had done that since 2015 but second in three months. There were indications that further increases are in the offing within the year.