FIXED INCOME MARKET
Liquidity in the banking system slipped into a deficit to open at ca -₦24.99 billion, lower than the previous day’s opening of ca ₦28.63 billion. As a result, Open Buy Back (OBB) and Overnight (ON) rates trended higher to close at 18.50% and 19.00% from 14.50% and 15.00% respectively, the previous day.
The Nigerian Treasury Bills (NTB) and Open Market Operations (OMO) secondary markets maintained a quiet stance today, as players stayed cautious ahead of tomorrow’s NTB Primary Market Auction (PMA). Slight interest was seen on 14 Oct 2021, 9 June 2022, and 30 June 2022 NTBs…
Mixed sentiments played out in the FGN bonds market today, with wide spreads witnessed on the mid to long end of the curve.
The Eurobonds space saw bullish sentiments today, with buying interests seen on some select maturities.
The domestic bourse ended today’s trading session with a flatline performance…
In the parallel market, the Naira remained stable against the U.S Dollar, Pound Sterling and Euro at ₦505.00/$1.00, ₦708.00/₤1.00 and ₦595.00/€1.00.
Global Crude Oil prices reversed its previous day’s loss on expectation of a drop in U.S. crude oil stockpiles…