FINANCIAL MARKETS TODAY-12 July 2021

FIXED INCOME MARKET
Money Markets

System Liquidity opened the week with a balance of ca ₦28.63 billion, lower than the previous day’s opening of ca ₦149.26 billion ensued by the CRR debits and funding for the retail SMIS auction on Friday. Nevertheless, Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 14.50% and 15.00% from 19.75% and 20.50% respectively.

Treasury Bills

The NTB market started the week on a quiet note, with offers on 30 Jun 2022 at sub 8.45% levels but bids were far off. Thus, average rates remained unchanged day-on-day. The OMO secondary market traded in a similar fashion, with little to no trade executed across the yield curve. Average rates stayed flat, day-on-day.

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