FIXED INCOME MARKET
Open Buy Back (OBB) and Overnight (ON) rates trended higher to close at 27.50% and 28.75% from 8.00% and 8.25% respectively, the previous day. This was due to the CRR and FX retail auction debits passed today by the CBN. Thus, system liquidity is expected to be lower than previous day’s opening of ca ₦29.12 billion.
The NTB & OMO markets traded on a muted note, albeit mild sell interest was seen on 9 Jun’22 and 14 Jul’22 NTB papers.