Research analysts at JP Morgan, one of many US’s largest funding banks, moved Nigeria from chubby to market weight in its listing of emerging-market sovereign suggestions this week. But the transfer may have little affect on investor sentiment in the direction of Nigeria within the quick to medium time period, say capital market consultants.
“The index team in charge of the emerging-market bond index for sovereign debt rebalances country weights each month, but the team does not issue recommendations,” says Samir Gadio, head of Africa technique in Standard Chartered’s analysis group.
“There may have been suggestions in the media that Nigeria was delisted by the index provider, but this is not true,” he says.
Your browser couldn’t fetch this story