Monthly Financial Market Update – May 2024
Global Macroeconomic Review United States: May was ushered in with the third Federal Open Market Committee meeting for 2024 on April 30th and May 1st. At the meeting, the policymakers kept the interest rate at 5.50%, marking the sixth consecutive time…
FINANCIAL MARKETS WEEKLY – 07 JUNE 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity alternated between surplus and deficit balances throughout the week. Overall, by the end of the week, system liquidity opened in a deficit at -₦90.43 billion, compared to ₦80.71 billion the previous…
FINANCIAL MARKETS TODAY – 06 June 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity improved to ₦29.66 billion from -₦85.37 billion yesterday. Consequently, the Open Repo Rate (OPR) declined by 43 bps to 29.25%, while the Overnight Rate (O/N) fell by 32 bps to 29.94%. Outlook: We…
FINANCIAL MARKETS TODAY – 05 June 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity fell into negative territory as it opened at -₦85.37 billion from ₦345.29 billion yesterday due to the OMO auction debit. As a result, the Open Repo Rate (OPR) increased by 174 basis points to 29.68%,…
FINANCIAL MARKETS TODAY – 04 June 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity opened positively today at ₦345.29 billion, a significant increase from the -₦79.51 billion reported yesterday. Overall, the Open Repo Rate (OPR) decreased by 124 bps to 27.94%, while the Overnight Rate…
FINANCIAL MARKETS TODAY – 03 June 2024
FIXED INCOME MARKETS MONEY MARKETS Opening system liquidity fell back to a deficit region at -₦79.51 billion from ₦80.71 billion reported last week Friday. Overall, the Open Repo Rate (OPR) increased by 9bps to 29.18%, while the Overnight Rate (O/N)…
FINANCIAL MARKETS WEEKLY – 31 MAY 2024
FIXED INCOME MARKETS MONEY MARKETS After starting the week with a negative balance, system liquidity improved mid-week due to inflows from FX Swap maturities. However, the OMO auction absorbed liquidity from the system, issuing ₦500.00 billion worth of…
FINANCIAL MARKETS TODAY – 30 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity opened in negative territory at -₦350.55 billion, a significant shift from the previous day’s ₦478.97 billion positive, due to the OMO auction that occurred yesterday. Despite this, the Open Repo…
FINANCIAL MARKETS TODAY – 29 May 2024
FIXED INCOME MARKETS MONEY MARKETS Opening System liquidity improved today from -₦153.52 billion recorded yesterday to ₦478.97 billion today. Consequently, the Open Repo Rate (OPR) and Overnight Rate (O/N) declined by 9 bps and 8bps to 31.32% and…
FINANCIAL MARKETS TODAY – 28 May 2024
FIXED INCOME MARKETS MONEY MARKETS System liquidity remained at a deficit today, as it opened at -₦153.52 billion compared to -₦46.00 billion yesterday. Consequently, the Open Repo Rate (OPR) rose by 72 basis points to 31.41%, while the Overnight Rate…
