Nigeria 2-Year Bond Yield

Nigeria 2-Year Bond Yield closed up by 3.27% to 10.99 on 23 January 2021 and +-2.15% on a weekly basis. Nigeria 2-Year Bond Yield momentum was last calculated at +50.0/100 indicating positive momentum. Nigeria 2-Year Bond Yield trend is -25.0/100 indicating a negative trend. Nigeria 2-Year Bond Yield momentum exhaustion is -1.10733 indicating Nigeria 2-Year Bond Yield is oversold.Nigeria 2-Year Bond Yield RSI is 60.2325 .

Nigeria 2-Year Bond Yield Chart

Nigeria 2-Year Bond Yield

Nigeria 2-Year Bond Yield Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the Nigeria 2-Year Bond Yield. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the Nigeria 2-Year Bond Yield trading signals presented in the Nigeria 2-Year Bond Yield statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Nigeria 2-Year Bond Yield NG.2Y 10.99 0.5 -0.25 -1.10733 60.2325 3.27 -2.15 75.7 -0.83453

Nigeria 2-Year Bond Yield closed at 10.99 on 23 January 2021. Nigeria 2-Year Bond Yield trend was last calculated at -25.0/100 (range: -100 to +100) indicating a negative trend based on MacroVar models. Nigeria 2-Year Bond Yield momentum was last calculated at +50.0/100 (range: -100 to +100) indicating positive momentum. Nigeria 2-Year Bond Yield momentum exhaustion is -1.10733 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Nigeria 2-Year Bond Yield is oversold and a possible reversal is imminent. Nigeria 2-Year Bond Yield RSI was last calculated at 60.2325. Nigeria 2-Year Bond Yield moving averages were last recorded as follows: 1-month moving average: 1.384 in an uptrend , 1-quarter moving average: 2.01255 in a downtrend and 1-year moving average: 5.78893 in a downtrend. Nigeria 2-Year Bond Yield annual return was last recorded at None%, daily return was last recorded at 3.27%, and weekly return was last recorded at -2.15%. Nigeria 2-Year Bond Yield histrorical 20-day volatility was last recorded at 702.854%, Nigeria 2-Year Bond Yield alpha None, Nigeria 2-Year Bond Yield beta None and Nigeria 2-Year Bond Yield maximum drawdown was recorded at None%. MacroVar models monitor Nigeria 2-Year Bond Yield statistics based on historical data since 1970.

Nigeria 2-Year Bond Yield News

Nigeria 2-Year Bond Yield Factors

Nigeria 2-Year Bond Yield

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
Nigeria 2Y vs FX NG.FACT.FX2Y

Nigeria Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
Dow Jones New Zealand NZDOW 371.92 1 0.75 -0.01581 68.828 0.16 1 -1.34 0.17835
NZX 50 NZ50 12720.6 0.5 1 1.67031 59.8318 0.39 0.93 0.64 0.17906
New Zealand ETF ENZL 61.6 1 1 2.02707 65.392 -0.55 1.73 -5.19 0.20931
New Zealand Dollar US Dollar (NZD/USD) NZDUSD 1.43 -1 -1 -1.85463 34.3298 0.67 0.76 3.83 -0.07863
New Zealand 5-Year Bond Yield NZ.5Y 1.17 0.5 0.5 -0.0107 63.1496 -0.85 4.74 34.95 -0.66862
New Zealand 2-Year Bond Yield NZ.2Y 0.76 0.5 0.25 -0.21583 62.4424 11.27 61.36 186.79 -0.76152
New Zealand Yield Curve NZ.YC 0.8 0.5 1 1.14857 62.063 -16.93 -40.34 -41.43 0.47571
New Zealand Credit Default Swaps CDS.New-Zealand 15.7 -1 -0.75 -0.99492 14.6011 0 0 -3.68 -0.52881

Nigeria Economic Indicators

Indicator Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade 469 414 0.13285 -0.637541 1.0 -1.0 0.383333 2021-05-31
bank lending rate 8.37 8.34 0.00359712 0.00480192 1.0 1.0 0.75 2021-06-30
banks balance sheet 630135 627962 0.0034604 -0.00195764 1.0 -1.0 0.0166667 2021-03-31
building permits 4218 3129 0.348035 0.588102 1.0 1.0 1 2021-03-31
business confidence -0.6 1.8 -1.33333 -0.985646 1.0 1.0 0.333333 2021-06-30
capacity utilization 94.9 93.3 0.017149 0.0226293 1.0 1.0 0 2021-04-01
capital flows -2428 5694 -1.42641 -5.68726 -1.0 -1.0 0.05 2021-01-01
car registrations 5415 4512 0.200133 0.069524 1.0 1.0 0.616667 2021-06-30
central bank balance sheet 84122 81371 0.0338081 0.50175 1.0 1.0 0.75 2021-06-30
composite pmi 59.3 58 0.0224138 1.4916 1.0 1.0 1 2021-04-30
consumer confidence 107.1 105.2 0.0180608 -0.0138122 1.0 -1.0 0.65 2021-07-01
consumer price index cpi 1082 1068 0.0131086 0.0660098 1.0 1.0 0.516667 2021-04-01
core inflation rate 3.3 1.5 1.2 2.26733 1.0 1.0 0.9 2021-04-01
current account -2895 -2590 0.117761 14.8197 -1.0 -1.0 1 2021-01-01
current account to gdp -2.7 -3.6 -0.25 -0.619718 1.0 1.0 0 2020-01-31
deposit interest rate 0.27 0.49 -0.44898 0.35 1.0 1.0 0.783333 2021-03-05
exports 5867 5370 0.0925512 0.0852716 1.0 1.0 0.733333 2021-05-31
external debt 287822 289422 -0.00552826 0.0532321 -1.0 1.0 0.3 2021-01-01
fiscal expenditure 138916 111439 0.246565 0.837562 1.0 1.0 0 2019-02-28
foreign direct investment 1906 2661 -0.283728 1.56873 1.0 1.0 0.866667 2021-01-01
foreign exchange reserves 19977 18795 0.0628891 -0.393681 -1.0 -1.0 0.0833333 2021-06-30
gdp 206.929 207.921 -0.00477104 0.506911 1.0 1.0 0 2019-01-31
Real GDP 67775 66927 0.0126705 0.0905419 1.0 1.0 0.55 2021-01-01
gdp growth 1.6 -1 -2.6 1.28571 1.0 1.0 0.866667 2021-01-31
gdp growth annual 2.4 -0.8 -4 -0.272727 1.0 -1.0 0.483333 2021-03-31
government budget -7.5 2.4 -4.125 -3.5 -1.0 -1.0 0 2020-01-31
Government budget -23057 7429 -4.10365 -5.0903 -1.0 -1.0 0 2020-01-31
government debt 83375 57736 0.444073 7.1278 1.0 1.0 0 2019-02-28
government debt to gdp 27 19 0.421053 4 1.0 1.0 0 2020-01-31
government revenues 116003 119293 -0.0275792 0.427993 1.0 1.0 0 2019-02-28
housing index 5.2 1.3 3 0.677419 1.0 1.0 0.683333 2021-02-28
imports 5398 4980 0.0839357 0.312718 1.0 1.0 1 2021-05-31
industrial production 4.3 2.1 1.04762 0.535714 1.0 1.0 0.8 2021-01-01
inflation cpi 3.3 1.5 1.2 1.2 1.0 1.0 0.866667 2021-06-01
interbank rate 1.525 1.25 0.22 -0.394841 -1.0 -1.0 0.0333333 2019-09-30
interest rate 0.25 0.25 0 0 -1.0 -1.0 0.708333 2021-05-26
loans to private sector 116511 117122 -0.00521678 -0.0108919 -1.0 -1.0 0.0166667 2020-10-31
manufacturing pmi 60.7 58.6 0.0358362 0.0800712 1.0 1.0 0.85 2021-06-30
money supply m0 8173 8160 0.00159314 0.0294747 1.0 1.0 0.1 2021-06-30
money supply m1 121024 122071 -0.00857698 0.270073 1.0 1.0 0.566667 2021-05-31
money supply m3 364349 368720 -0.0118545 0.0603624 1.0 1.0 0.233333 2021-05-31
Producer Price Index 1186 1162 0.020654 0.0655885 1.0 1.0 0.383333 2021-01-01
retail sales MoM 2.5 -2.6 -1.96154 1.08333 1.0 1.0 0.933333 2021-01-01
retail sales 6.8 4.6 0.478261 1.42857 1.0 1.0 0.916667 2021-03-01
services pmi 56.1 61.2 -0.0833333 0.496 1.0 1.0 0.983333 2021-05-31
unemployment rate 4.7 4.9 -0.0408163 0.0681818 1.0 1.0 0.7 2021-01-01
youth unemployment rate 12.4616 13.6734 -0.0886246 0.0214426 1.0 1.0 0 2021-01-01
Money Supply M2 150882 153357 -0.0161388 0.0154592 -1.0 1.0 0.0166667 2017-01-31

Nigeria 2-Year Bond Yield Trading Signals


MacroVar estimates the following signals: Nigeria 2-Year Bond Yield momentum, Nigeria 2-Year Bond Yield trend, Nigeria 2-Year Bond Yield oscillator, Nigeria 2-Year Bond Yield RSI and Nigeria 2-Year Bond Yield returns.

Nigeria 2-Year Bond Yield Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarNigeria 2-Year Bond Yield momentum signal ranges from -100 to +100. The Nigeria 2-Year Bond Yield momentum signal is derived as the mean value from 4 calculations for the Nigeria 2-Year Bond Yield. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Nigeria 2-Year Bond Yield return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Nigeria 2-Year Bond Yield momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Nigeria 2-Year Bond Yield momentum signal moves from positive to negative value or vice-versa.

Nigeria 2-Year Bond Yield trend

Nigeria 2-Year Bond Yield trend signal ranges from -100 to +100. Nigeria 2-Year Bond Yield trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Nigeria 2-Year Bond Yield Closing price vs Nigeria 2-Year Bond Yield moving average (MA) calculation: If Nigeria 2-Year Bond Yield is greater than Nigeria 2-Year Bond Yield MA value is +1, else -1, 2. Nigeria 2-Year Bond Yield Moving average slope calculation: if current Nigeria 2-Year Bond Yield moving average is higher than the previous MA, Nigeria 2-Year Bond Yield upward slope +1, else -1
Nigeria 2-Year Bond Yield trend model can be used as a trend strength indicator. Nigeria 2-Year Bond Yield trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Nigeria 2-Year Bond Yield trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Nigeria 2-Year Bond Yield 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Nigeria 2-Year Bond Yield is in an uptrend when Nigeria 2-Year Bond Yield price is higher than the 52-week moving average and the Nigeria 2-Year Bond Yield 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Nigeria 2-Year Bond Yield oscillator and Nigeria 2-Year Bond Yield RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Nigeria 2-Year Bond Yield oscillator

The Nigeria 2-Year Bond Yield oscillator estimated by MacroVar is the z-score of the current Nigeria 2-Year Bond Yield price versus Nigeria 2-Year Bond Yield 1-year simple moving average price. The formula for the Nigeria 2-Year Bond Yield oscillator is:
Nigeria 2-Year Bond Yield oscillator = (Current Price – 250 trading days Nigeria 2-Year Bond Yield simple moving average price) / (250 days Nigeria 2-Year Bond Yield price standard deviation)

Nigeria 2-Year Bond Yield oversold conditions
Nigeria 2-Year Bond Yield is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Nigeria 2-Year Bond Yield is oversold it is often due for a rebound. Values of the Nigeria 2-Year Bond Yield oscillator lower than -2.5 signify oversold conditions. It must be noted that the Nigeria 2-Year Bond Yield oscillator must be analyzed ibn conjunction with the rest of Nigeria 2-Year Bond Yield quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Nigeria 2-Year Bond Yield RSI.
Nigeria 2-Year Bond Yield overbought conditions
Nigeria 2-Year Bond Yield is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Nigeria 2-Year Bond Yield is overbought it is often due for a correction. Values of the Nigeria 2-Year Bond Yield oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Nigeria 2-Year Bond Yield quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Nigeria 2-Year Bond Yield RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Nigeria 2-Year Bond Yield is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Nigeria 2-Year Bond Yield uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Nigeria 2-Year Bond Yield returns

MacroVar calculates Nigeria 2-Year Bond Yield returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Nigeria 2-Year Bond Yield returns = (Nigeria 2-Year Bond Yield Closing Price – Nigeria 2-Year Bond Yield Previous Price)/(Nigeria 2-Year Bond Yield Previous Price)
Feedback
Feedback
How would you rate your experience?
Do you have any additional comment?
Next
Enter your email if you'd like us to contact you regarding with your feedback.
Back
Submit
Thank you for submitting your feedback!