FINANCIAL MARKETS TODAY-13 July 2021

FIXED INCOME MARKET
Money Markets

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.

Treasury Bills

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…

Bonds

Mixed sentiments played out in the FGN bonds market today, with wide spreads witnessed on the mid to long end of the curve.

Eurobonds

The Eurobonds space saw bullish sentiments today, with buying interests seen on some select maturities.

Equities

The domestic bourse ended today’s trading session with a flatline performance…

Foreign Exchange

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.

Commodities

Global Crude Oil prices reversed its previous day’s loss on expectation of a drop in U.S. crude oil stockpiles…

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