AIICO Capital Limited

Interbank system liquidity opened with a deficit of ca ₦102.18 billion today, worse than previous day’s opening balance of ca ₦64.56billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 7.00% and 7.75% from 13.00% and 13.55% respectively, the previous day.

The National Bureau of Statistics (NBS) confirmed in its monthly report, the nation’s fifth consecutive month of disinflation, with the Consumer Price Index (CPI), which measures inflation settling at 17.01% year-on-year in August 2021 vs 17.38% recorded in July 2021. The Food and Core sub indices both grew at slower rates in the month, settling at 20.30% and 13.41% year-on-year in August 2021 from 21.03% and 13.72% respectively, in July 2021. This is attributable to the persistent decrease in food prices.

We expect continued disinflation in the near term, due to the high base-effect of last year.

Banking system liquidity opened with a deficit of ca ₦94.47 billion today, lower than previous day’s opening deficit of ca ₦15.07 billion, despite inflows from Open Market Operations (OMO) maturities of ca ₦38.00 billion. However, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 14.00% and 14.50% from 14.50% and 14.75% respectively, the previous day.

today, lower than Friday’s opening of ca ₦7.44 billion. However, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 14.50% and 14.75% from 14.00% and 14.50% respectively, the previous day.

FIXED INCOME MARKET Money Markets  Banking system liquidity opened at ca ₦7.44 billion today, a slight improvement from yesterday’s deficit balance of ca -₦13.78 billion. However, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 14.00% and 14.50% from 12.50% and 13.00% respectively, the previous day. Treasury Bills The NTB… Continue reading FINANCIAL MARKETS TODAY – 10 September 2021

FIXED INCOME MARKET Money Markets  Banking system liquidity improved slightly today, opening with a deficit of ca -₦13.78 billion today, better than the previous day’s opening of ca -₦92.05 billion. Nonetheless, the Open Buy Back (OBB) and Overnight (ON) rates trended higher to settle at 12.50% and 13.00% from 8.83% and 9.33% respectively, the previous… Continue reading FINANCIAL MARKETS TODAY – 09 September 2021

FIXED INCOME MARKET Money Markets  System liquidity is expected to be relatively stable at c.N200bn, despite the Open Buy Back (OBB) and Overnight (ON) rates trending higher to settle at 8.83% and 9.33% from 7.00% and 7.25% respectively, the previous day, amid slight funding pressure. Treasury Bills The NTB secondary market sustained its quiet stance,… Continue reading FINANCIAL MARKETS TODAY – 08 September 2021

FIXED INCOME MARKET Money Markets   Liquidity in the banking system improved today (buoyed by OMO maturities of ₦50bn), opening with a balance of ca ₦212.74 billion, higher than the previous day’s opening of ca ₦169.91 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 7.00% and 7.25% from… Continue reading FINANCIAL MARKETS TODAY – 07 September 2021

FIXED INCOME MARKET Money Markets   System Liquidity opened the first trading day of the week with a balance of ca ₦169.91 billion, lower than the Friday’s opening of ca ₦393.10 billion. Nonetheless, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 8.00% and 8.50% from 13.00% and 13.50% respectively, the… Continue reading FINANCIAL MARKETS TODAY – 06 September 2021