FIXED INCOME MARKET

Money Markets

Banking system Liquidity Improved significantly, to open with ca
₦170.94 billion today, higher than Friday’s opening of ca -₦36.09
billion. As a result, the Open Buy Back (OBB) and Overnight (ON)
rates trended lower to settle at 10.25% and 10.75% from 12.00%
and 12.50% respectively, on Friday.

Treasury Bills

The NTB secondary market was relatively calm today, however, few trades were executed on the 30 Jun 2022 paper at 8.65% levels. Overall, average rates increased by ca 4bps day-on-day. Likewise, the OMO secondary market saw slight sell-side interests across the yield curve. Thus, average yield rose by ca 6bps, day-on-day.

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