Zero Equilibrium

Macroeconomics || Markets || Fixed Income || Commodities.

Views are Independent and Intellectually Genuine.

DM for Academic & Non-Academic Research Assistance

[Zero Equilibrium @0Equilibrium]

Zero Equilibrium Economic Community (ZEEC):

Zero Equilibrium is a think-tank dedicated to the enlightenment of individuals, and spreading knowledge. The objective of this Economic Community is to improve economic thinking and synchronize seekers of knowledge and people of knowledge.

We have a strong passion for education, so academic development and support is a big part of our objective, but we are no less dedicated to professional (academics or institutional research support and analysis).

The community welcomes certified economists, enlightened and ordinary economic enthusiasts. A meeting point for discussing economic theory, and economic policy. Anyone is free to contribute to the discussion with relevant posts, comments and contents.

And as anchor, I will be providing contents centered around core Macro theory: books, journals by renowned economists.

We would also be discussing policy: notable local, and foreign macroeconomic indicators and developmens, as well a broad-based analysis on various segments of the financial markets: Fixed Income, Equity (Indexes), Commodities, Cryptocurrency.

Core Contents and Tenets of ZEEC:

Contents are divided into 6 with the 5th and add-on bonus that would later grow in prominence.

1. Macro/Micro Academia:
Free flowing syllabus, with threads (and papers) on macro economic concepts, from different schools, even though this is a Post-Keynesian outfit.
There would be explanatory comments and responses to questions and queries in order to boost understanding different schools of thought.
[Monthly Spaces to have a chance for an interactive session on published content]
2. Applied Macroeconomics:
Here we link economics to real life, analysing different spheres of the economy, sports, health, government policy, public sector efficiency, Industry,etc.

Debates on Policy and Theories (and Markets):
3. Global/Local Macro:
Economic Indicator Watch Analysis, Commentary, and
Interpretations of trending policies, central bank, fiscal and trade policies.
4. Commodity Watch:
Updated Analytical Research Papers. On a select group of commodity futures.
Should be tailored for traders, or purchasers.
5. [Periodic] Financial Markets Analysis:
a. Currency
b. Bonds
c. Stocks
d. Index movements
e. Crypto
6. Investment Education:
a. Basics of Investing.
b. Portfolio advisory.

Rules of Engagement:
1. Contrarian ideas and against arguments are welcome, and anyone can respond to ZE posts, or articles on the blog, and anyone who wishes can write and send rlevenat articles to our email that we would the then post on the our blog.
2. Queries, questions and demands for clarification on any topic (theory, markets or policy) will be most welcome and responded to swiftly. Anyone with knowledge can also throw in theirs
3. The discussions around policy and national economic development WOULD be factual, objective, and without malice. Emotional arguments are not welcome.
4. There is no right and wrong just reason.

[Chinedu Muhammad Okoye☘️ @Muhammad_Okoye]

FPI: $9.86 billion or 95.1% of total inflows.
FDI: 1.3% of total inflows
When I said in the Cheng's story, that investors mostly see yield, and not necessarily growth, I didn't stutter.

[Zero Equilibrium @0Equilibrium]

E.
Though sometimes it can be regrettable.

[Gentleman Investor 💼💰 @gentlemanway007]

When a stock in your portfolio starts dipping, at what point do you deploy fresh funds?

A. -5%

B. -10%

C. -15%

D. -20% or more

E. I buy gradually on the way down

[Emerging Market Asymmetry @EMAsymmetry]

@0Equilibrium It is fundamentally a dollar funding channel first. Gilts matter because their sell-off tightens cross-currency basis, which raises the implicit dollar borrowing cost for EM issuers even before the BoE moves. The GBP leg is the volatility amplifier, not the primary driver.

[Zero Equilibrium @0Equilibrium]

@EMAsymmetry Cheers.
🤝🤝🤝

[Zero Equilibrium @0Equilibrium]

Don't forget UK Gilts......

[Emerging Market Asymmetry @EMAsymmetry]

Three simultaneous tightening channels that the EMBI at 241 bps is not pricing: (1) US real yields rising — raises dollar-denominated refinancing costs in real terms. (2) JGB yields at 2.75%, up from 2.52% at end-April — BOJ June hike trajectory compressing the carry funding Pakistan, Egypt, Kenya, Ethiopia. (3) Hormuz flows still very limited — import bills persist. Not sequential. Simultaneous.

[Zero Equilibrium @0Equilibrium]

@EMAsymmetry Absolutely but I have a question:
Is the transmission to EM sovereign funding UK-first? Or is it fundamentally USD liquidity first, with Gilts acting consequential secondarily as a volatility amplifier?

[Zero Equilibrium @0Equilibrium]

On a real though?

I'd buy you, WAPCO, Aradel, MTNN and TIP and Fidelity bank shares totaling N500k. Then buy the same for my self with the "change". That way, in two years, we could have N1m each because you decided to be kind to me.

[Big Dee @Nedumooree]

If I give you #1m to buy me anything and take the change.

What will you buy for me ?

[Zero Equilibrium @0Equilibrium]

Red in Asia save for South Korea, China and Indonesia.

Now the question is "why”?

Can you answer me that?

[Zero Equilibrium @0Equilibrium]

@WealthWithPro @Nairametrics @01Megad @compoundinnaira @BusinessDayNg @Bloomberg Ballsy!

[Zero Equilibrium @0Equilibrium]

Zero Equilibrium® Market Watch: Equity Indixes and Commodities at the Close: 🧵

Taking stock of price movements of the Nigerian, Britain, German and braider European Major Indexes, as well as commodities (Gold, Silver, Copper, Oil and Natural gas), the market displayed a broad but mild risk-off sentiments as equity markets declined marginally in Nigeria and across Europe whilst Gold and Silver remained under pressure per the quote post.

Equities:

European and Nigerian equity markets both closed lower, as European and UK markets experienced a relatively contained risk-off session, while Nigeria saw heavier, albeit gradual, selling pressure.

Ranking the above indexes from the strongest to the weakest is as follows:

1. DAX: -0.48%
2. Euro Stoxx 50: -0.59%
3. FTSE 100: -0.91%
4. NGX All Share Index: -1.12%

1/6

[Zero Equilibrium @0Equilibrium]

Zero Equilibrium® Macro and Markets Brief: Asian Trading Hours.

Markets cautious optimism continues, as observed in the Asian trading hours, with Asian FX and the Dollar Index (DXY) fairly muted.

This is as markets markets continue to trade on Optimism as opined yesterday in ZE's weekly Macro and Markets Review Thread. Where it was stated that: markets remain cautious tatfing on political outcomes as opposed to data. [See link https://t.co/7YS0a0mzUI]

1/5

[Wealth With Prosperity @WealthWithPro]

@0Equilibrium @Nairametrics @01Megad @compoundinnaira @BusinessDayNg @Bloomberg The -1.12% close is exactly the Salah break sell-off I was expecting this morning.

I deployed ₦165,000 into GTCO, Zenith and Stanbic during that pressure, not despite it.

Patient hands buy the dip. September 21 doesn't move.

[Zero Equilibrium @0Equilibrium]

@stockbubblesNG @Folorun26581682 It was everywhere!

https://t.co/9qIQqw7aRN

[Zero Equilibrium @0Equilibrium]

Zero Equilibrium® Market Watch: Equity Indixes and Commodities at the Close: 🧵

Taking stock of price movements of the Nigerian, Britain, German and braider European Major Indexes, as well as commodities (Gold, Silver, Copper, Oil and Natural gas), the market displayed a broad but mild risk-off sentiments as equity markets declined marginally in Nigeria and across Europe whilst Gold and Silver remained under pressure per the quote post.

Equities:

European and Nigerian equity markets both closed lower, as European and UK markets experienced a relatively contained risk-off session, while Nigeria saw heavier, albeit gradual, selling pressure.

Ranking the above indexes from the strongest to the weakest is as follows:

1. DAX: -0.48%
2. Euro Stoxx 50: -0.59%
3. FTSE 100: -0.91%
4. NGX All Share Index: -1.12%

1/6

[Zero Equilibrium @0Equilibrium]

@Nairametrics https://t.co/9qIQqw7aRN

[Zero Equilibrium @0Equilibrium]

Zero Equilibrium® Market Watch: Equity Indixes and Commodities at the Close: 🧵

Taking stock of price movements of the Nigerian, Britain, German and braider European Major Indexes, as well as commodities (Gold, Silver, Copper, Oil and Natural gas), the market displayed a broad but mild risk-off sentiments as equity markets declined marginally in Nigeria and across Europe whilst Gold and Silver remained under pressure per the quote post.

Equities:

European and Nigerian equity markets both closed lower, as European and UK markets experienced a relatively contained risk-off session, while Nigeria saw heavier, albeit gradual, selling pressure.

Ranking the above indexes from the strongest to the weakest is as follows:

1. DAX: -0.48%
2. Euro Stoxx 50: -0.59%
3. FTSE 100: -0.91%
4. NGX All Share Index: -1.12%

1/6

[Nairametrics @Nairametrics]

The Nigerian equities market has climbed to a remarkable 60.49% year-to-date return as of 26 May 2026, with the All-Share Index recording a market capitalization of N160.09 trillion.

Backed by trading volume of over 87 billion shares, the market has already outperformed the entire first-half return of 16.57% recorded in H1 2025, despite June still being underway.

Here are the Top 10 Nigerian stocks with the highest year-to-date returns in 2026.

Click the link in our bio to cast your vote for Nigeria's Capital Market Journalist of the Year and Capital Market Influencer of the Year at the Nairametrics Capital Market Awards 2026.

Your vote. Your voice. Your winner.

🔗 Vote now: https://t.co/OC62yOAgil

[Zero Equilibrium @0Equilibrium]

Zero Equilibrium® Market Watch: Equity Indixes and Commodities at the Close: 🧵

Taking stock of price movements of the Nigerian, Britain, German and braider European Major Indexes, as well as commodities (Gold, Silver, Copper, Oil and Natural gas), the market displayed a broad but mild risk-off sentiments as equity markets declined marginally in Nigeria and across Europe whilst Gold and Silver remained under pressure per the quote post.

Equities:

European and Nigerian equity markets both closed lower, as European and UK markets experienced a relatively contained risk-off session, while Nigeria saw heavier, albeit gradual, selling pressure.

Ranking the above indexes from the strongest to the weakest is as follows:

1. DAX: -0.48%
2. Euro Stoxx 50: -0.59%
3. FTSE 100: -0.91%
4. NGX All Share Index: -1.12%

1/6

[Zero Equilibrium @0Equilibrium]

ZE Take (Cont'd)

Meanwhile, the FTSE 100 experienced a relatively contained decline. This ZE interpreted as investors largely maintained positions and adopted a more cautious stance rather than engaging in broad liquidation.

Commodities are back to the earlier of an inverse relationship between precious metals and Crude. Gold struggling above $4,600, and silver holding above ZE base level of $75.

At the close the Gold/Silver ratio hit the lower band of ZE expected range (58-63) as Gold declined faster than Silver. This we attribute to Silvers industrial demand, as Copper (a major industrial metal), also rose Intraday, holding up at $6.4, and we'll within ZE expected FY range pricing of $6-$7.

✍🏾By @Muhammad_Okoye for Zero Equilibrium®

6/6

[Zero Equilibrium @0Equilibrium]

ZE Take:

The overall picture suggests that Europe experienced a contained risk-off session, while Nigeria faced a more persistent, domestically influenced bout of selling pressure.

The Euro Stoxx 50 displayed greater resilience, experiencing only a mild pullback into the close.

The broader European index remained more stable than the DAX, as weakness in some constituent markets was partially offset by strength elsewhere across the Eurozone.

5/6

[Zero Equilibrium @0Equilibrium]

Lets see your execution then. I will give you N900k for lunch or your side chick or something.

[Anthony Mustapha @AnthonyMustaph]

Invested N5m in Zenith after Tinubu came in and dollar was N1800. That went up to N12m and then moved everything to Aradel early this year and investment now stands at N37m. In dollar terms that is $6k to $27k . Now tell me why I should remove this government?