Markets

Daily Market Update –April 10, 2013

The Money Market
Liquidity in the money market declined further today due to NNPC remittances. As a result, rates went up by an average of 0.50%. Consequently, the secured OBB and overnight funds traded at 14% and 14.5% respectively. Interest rate is expected to fall steeply tomorrow due to a T-bills net cash credit of ₦155 billion.

Treasury Bills Market

Daily Market Update –April 09, 2013

The Money Market
The CBN offered ₦50 billion worth of treasury bills in the OMO session carried out today but eventually declined to sell. Nevertheless, interest rates went up sharply by an average of 3.00% due to the OMO auction and NNPC withdrawals from the system. Consequently, the secured OBB and overnight funds traded at 13.5% and 13.75% respectively.

Treasury Bills Market

Daily Market Update –April 08, 2013

The Money Market
Market liquidity fell today, as CBN successfully mopped up ₦102 billion from the system via an OMO session conducted. As a result, interest rates inched up by an average of 0.25%. Consequently, the secured OBB and overnight funds traded at 10.5% and 10.75% respectively. A northward trend in rates is expected this week, as the market anticipates NNPC withdrawals from the system.

Treasury Bills Market

Daily Market Update –April 05, 2013

The Money Market
Interest rates remained relatively stable as market remained liquid. The secured OBB and overnight funds traded at 10.25% and 10.35% respectively. Liquidity is expected to decline steadily next week, as market anticipates the commencement of NNPC withdrawals from the system. However, a T-bills net cash credit is expected on Thursday, totalling ₦155 billion.

Treasury Bills Market

Daily Market Update –April 04, 2013

The Money Market
As expected interest rates dropped to 10% levels due to the credit of Treasury bills maturity of about ₦250 billion into the system. Irrespective of the OMO session carried, the secured OBB and overnight funds traded at 10.25% and 10.50% respectively. Rates are expected to close the week at these levels in the absence of any major withdrawal from the system.

Treasury Bills Market

Daily Market Update –April 03, 2013

The Money Market
CBN successfully mopped up ₦419 billion from the system via the OMO session that was carried out today. In lieu to this, interest rates went up by an average of 1.00%, as market liquidity fell sharply. Hence, the secured OBB and overnight funds traded at 11.00% and 11.25% respectively.

Interest rates are expected to crash tomorrow, back to their 10% levels, upon the credit of T-bill maturities totalling ₦250 billion.

Treasury Bills Market

Daily Market Update –April 02, 2013

The Money Market
Interest rates remained relatively stable today as the market opened on a very liquid note due to the ₦321 billion Treasury bills net cash credit into the system on Thursday. Consequently, the secured OBB and the overnight funds traded at previous close; 10.15% and 10.25% respectively.

Rates are expected to remain at these levels throughout the week due to Treasury bills maturity of approximately ₦250 billion on Thursday.

Treasury Bills Market

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