Markets

Daily Market Update –December 11, 2012

The Money Market
Market liquidity reduced considerably today due to OMO debits and NNPC withdrawals of about ₦160 billion from the system. As a result, rates went up by about 1.50% with the secured OBB and the overnight funds trading at 12.50% and 12.75% respectively. Interest rates are expected to move up by about 1.00% after WDAS debits tomorrow and remain stable through the rest of the week.

Treasury Bills Market

Daily Market Update –December 10, 2012

The Money Market
Market liquidity rose sharply today due to a late cash credit of statutory disbursement (FAAC) totalling ₦199 billion into the system on Friday. As a result, rates came down by about 1.00% regardless of the Open Market Operations (OMO) carried out by the Central Bank today. Consequently, the secured OBB and the overnight funds traded at 11.00% and 11.25% respectively.

Treasury Bills Market

Daily Market Update –December 5, 2012

The Money Market
Rates went up slightly today by an average of 0.50% as a result of WDAS settlements. Subsequently, the secured OBB and the overnight funds traded at 12.00% and 12.25% respectively.

Treasury Bills Market
The Treasury Bills Market was relatively active today with yields dropping by an average of 0.10% across most maturities. Major activity was witnessed on the reopened 91day bill which opened at 12.25% offer and dropped about 0.40% to close at 11.85% offer.

The Bonds Market

Daily Market Update –November 30, 2012

The Money Market
The Money Market remained liquid despite liquidity tightening activities (OMO) by the Central Bank to mop of excess funds. Rates on the secured OBB and the overnight funds closed at 11.50% and 11.75% respectively. Rates are expected to remain stable next week due to stability in market liquidity.

Treasury Bills Market
The Treasury Bills Market was moderately active today with intraday trading activities witnessed across board, dropping yields by an average of 0.15% across all tenured maturities.

Daily Market Update –November 29, 2012

The Money Market
The Money Market was very liquid with ₦171 billion OMO bills maturing into the system. Interest rates rose to 12.00% levels with the announcement of ₦100 billion OMO by the Central Bank of Nigeria (CBN). However, as the news of the unsuccessful OMO auction filtered into the market, rates dropped to 10.00% levels where it initially opened. Rates are expected to remain stable in the absence of liquidity tightening activities by the CBN.

Treasury Bills Market

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