It’s No Joke, the U.S Economic Shut Down Brings Down New Markets 0.2% in 10 Days, NSE 25% 

The emerging and frontier markets am not be as lucky this time as the economic shut down in the United States has caused a decline of 0.2 percent in these new markets. This is as volume and All Share Index of the Nigerian Stock Exchange (NSE) cloned 25 percent.
Fears are further heightened that failure by the U.S. congress to adjust the debt ceiling by October 17 could result to catastrophic consequences for the US and the global economy. 
“Even more worrisome is the contagious effect of the default across markets and the adverse capital inflow reversal effect on emerging and frontier markets. The Emerging Market Index has declined by 0.2 percent over the 10-Days shut down, while the traded volume on the NSE-ASI declined 25 percent”, said Afrinvest in its macroeconomic updates. 
In the same vein, activities on the bond market were also mild as risk-averse investors fear possible contagion effects on yields.However, fillers from the ongoing negotiations suggest a near break in the impasse as the congress is likely to agree on a short term expansion of the debt limit to avert the ill-fated default; ultimately buying time for a broader policy negotiations. 
“We believe the US congress will strike a deal before the default date, thereby averting the crystallization of the default. Nevertheless, the increasing exposure of the Nigeria economy and asset classes to the US and euro zone policy remain a valid concern to investors”, said Afrinvest.

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