The Markets

ADDIS ABABA (Capital Markets in Africa) – Ethiopian bonds plunged, sending yields to the highest in more than a year, as the nine-month conflict in the Tigray region spilled into a neighboring area. The chief administrator of Ethiopia’s Amhara region on Sunday issued a call to arms to defend his territory against rebels advancing southwards from Tigray. Fighting has already spread to the Afar region on Tigray’s eastern border, jeopardizing a key trade artery that…

LAGOS (Capital Markets in Africa) – Bitcoin held around $32,000 in a consolidation of a rebound stoked by comments from Elon Musk, Jack Dorsey and Cathie Wood on the future of the largest cryptocurrency. The digital asset traded near $32,000 as of 10:35 a.m. in Singapore on Thursday after jumping 6.5% a day earlier. Other cryptos, including Ether and Dogecoin, held onto gains, as did the Bloomberg Galaxy Crypto Index.Tesla Inc. already owns Bitcoin but Chief Executive…

LAGOS (Capital Markets in Africa) Asian stocks climbed Thursday after solid company earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. The dollar held a decline. An MSCI Inc. gauge of Asia-Pacific shares rose for a second day, led by cyclical sectors like materials and energy, though technology also pushed higher. Hong Kong and Australia outperformed, while Japan is shut for a holiday. European contracts advanced and U.S. futures edged up…

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The world is going through a challenging period as the coronavirus pandemic does not seem to be stopping. Businesses are struggling and many countries have their systems compromised. Although vaccines have been developed, the infection rates have surpassed the recovery rates globally. People have plunged into debt and many have lost their jobs. Unfortunately, the bills are still coming and to pay them, drastic measures have been taken by individuals. Currency trading is an online…

LAGOS (Capital Markets in Africa) — The days when Bitcoin was the only real option for investors looking to get into cryptocurrencies are long gone. Ether, the second-largest currency, rose to a record as interest in so-called alt coins continues to surge. Dogecoin, the memecoin that started as a joke, is now worth nearly $90 billion. In all, there are more than 7,000 coins currently tracked by CoinGecko, with a bewildering array of names (PancakeSwap, anyone?). For most…