FIXED INCOME MARKET
System Liquidity opened with a balance of ca ₦205.76 billion today,
higher than previous day’s opening of ca ₦170.94 billion, as inflows
from OMO maturities impacted the system. As a result, the Open
Buy Back (OBB) and Overnight (ON) rates trended lower to settle at
9.75% and 10.25% from 10.25% and 10.75% respectively, yesterday.
the NTB secondary market saw another calm day of trading, with
demand seen on the 30 June 2022 paper at 8.70% levels. Overall,
average rates remained stable, day-on-day. Likewise, light demand
was witnessed on selected maturities in the OMO secondary market. Thus, average yield lost ca 1bp, day-on-day.