Category: Daily Market Report

FIXED INCOME MARKET Money Markets                                                                                  Although Interbank system liquidity opened with a higher balance of ₦453.63 billion today against ₦281.53 billion, the Overnight Policy Rate (OPR) and Overnight (ON) rates trended slightly higher to 1.00% and 1.25% from 0.50% and 1.00% respectively. We believe the increase in rates could have… Continue reading FINANCIAL MARKETS TODAY – 28 January 2022

FIXED INCOME MARKET Money Markets                                                                                  Interbank system liquidity opened with a balance of ₦281.53 billion, lower than the previous day’s opening balance of ca ₦386.77 billion. However, the Overnight Policy Rate (OPR) and Overnight (ON) rates trended lower to 0.50% and 1.00% from 1.50% and 1.85% respectively, the previous day. Treasury… Continue reading FINANCIAL MARKETS TODAY – 27 January 2022

FIXED INCOME MARKET Money Markets                                                                                 Interbank system liquidity opened with a balance of ₦386.77 billion, higher than the previous day’s opening balance of ca ₦318.53 billion. However, the Overnight Policy Rate (OPR) and Overnight (ON) rates remained unchanged at 1.50% and 1.85% respectively. Treasury Bills                                                                   Activity in… Continue reading FINANCIAL MARKETS TODAY – 26 January 2022

FIXED INCOME MARKET Money Markets                                                                                 Interbank system liquidity opened with a balance of ₦318.53 billion, significantly higher than the previous day’s opening deficit balance of ca ₦82.71 billion, as OMO maturity of  ca.₦110.00 billion impacted the system. Thus, the Overnight Policy Rate (OPR) and Overnight (ON) rates trended lower to… Continue reading FINANCIAL MARKETS TODAY – 25 January 2022

FIXED INCOME MARKET Money Markets                                                                                  Interbank system liquidity opened with a deficit balance of ca ₦82.71 billion, lower than Friday’s opening positition of ca – ₦52.82 billion. Nonetheless, the Overnight Policy Rate (OPR) and Overnight (ON) rates trended lower to settle at 8.00% and 8.50% from 15.00% and 15.25% respectively.… Continue reading FINANCIAL MARKETS TODAY – 24 January 2022

FIXED INCOME MARKET Money Markets The Overnight Policy Rate (OPR) and Overnight (ON) rates trended higher to settle at 15.00% and 15.25% from 11.00% and 11.50%, on the back of today’s retail FX auction and the Bond auction settlement. Treasury Bills The NTB secondary market closed the week slightly bullish, with demand  for select NTB… Continue reading FINANCIAL MARKETS TODAY – 21 January 2022

FIXED INCOME MARKET Money Markets Interbank system liquidity slipped into a deficit, opening with a balance of ca -₦5.77 billion, lower than yesterday’s balance of ca ₦37.29 billion. Nonetheless,  the Overnight Policy Rate (OPR) and Overnight (ON) rates trended lower to settle at 11.00% and 11.50% from 13.25% and 13.50%, due to Retail SMIS refunds.… Continue reading FINANCIAL MARKETS TODAY – 20 January 2022

FIXED INCOME MARKET Money Markets  Interbank system liquidity opened the day with a credit balance of ca ₦37.29 billion, albeit lower than yesterday’s balance of ₦60.78 billion. Thus, the Overnight policy Rate (OPR) and Overnight (ON) rates trended higher to settle at 13.25% and 13.50% from 12.50% and 13.00% respectively. Treasury Bills The NTB secondary… Continue reading FINANCIAL MARKETS TODAY – 19 January 2022

FIXED INCOME MARKET Money Markets  Interbank system liquidity improved today (buoyed by OMO maturities worth ca ₦130 billion and coupon inflows – ca ₦65 billion), opening with a credit balance of ca ₦60.78 billion, higher than yesterday’s deficit balance of ₦34.01 billion. Thus, the Overnight Policy Rate (OPR) and Overnight (ON) rates trended lower to… Continue reading FINANCIAL MARKETS TODAY – 18 January 2022

FIXED INCOME MARKET Money Markets  Interbank system liquidity opened the week with a negative balance of ca -₦34.01 billion, lower than Friday’s balance of ca ₦39.81 billion. Thus, the Overnight Policy Rate (OPR) and Overnight (ON) rates trended higher to settle at 14.50% and 15.25% from 13.50% and 14.25%, respectively. Treasury Bills The NTB secondary… Continue reading FINANCIAL MARKETS TODAY – 17 January 2022