Markets

Daily Market Update –January 14, 2013

The Money Market
After Fridays WDAS debit, Market Liquidity fell slightly today. However, due to continuing NNPC debit, interest rates moved about 0.75% with the secured OBB and the overnight trading at 13.00% and 13.25% respectively.

Treasury Bills Market
The Treasury Bills Market was fairly active today with activity centred on the short and medium tenured bills which dropped yields by an average of 0.10% while the long tenured bills remained relatively stable throughout the trading day.

Daily Market Update –January 11, 2013

The Money Market
The market opened liquid and remained stable through the day. As a result, rates remained the same on the average, regardless of WDAS debits totalling ₦6.7 billion. Consequently, the secured OBB and the overnight funds traded at 12.00% and 12.25% respectively. Rates are expected to open at these levels next week but gradually trend downwards towards the close of the week due to T-bills maturity of ₦147 billion.

Treasury Bills Market

Daily Market Update –January 10, 2013

The Money Market
The Money Market opened liquid and remained stable through the day. As a result, rates dropped by 0.25% regardless of OMO debits totalling ₦83 billion. Consequently, the secured OBB and the overnight funds traded at 12.00% and 12.25% respectively. The market liquidity is expected to stay at these levels tomorrow.

Treasury Bills Market

Daily Market Update –January 9, 2013

The Money Market
Market remained liquid today. However, due to NNPC withdrawals and WDAS debits, rates rose by 0.25% with the secured OBB trading at 12.25% and the overnight funds at 12.50%. There will be a Treasury Bills net cash credit of about ₦60 billion into the system tomorrow, but market liquidity is expected to remain stable as NNPC withdrawals continue.

Treasury Bills Market

Daily Market Update –January 7, 2013

The Money Market
Market opened on a liquid note today. However, interest rates rose by an average of 0.25% from previous close due to ₦133 billion Open Market Operations carried out today by the CBN. Hence, the secured funds and the overnight funds traded at 11.25% and 11.50% respectively.

Treasury Bills Market
The Treasury Bills Market was quiet today, with yields dropping slightly by an average of 0.07% on the short and medium tenured bills while the long tenured bills remained relatively stable.

Daily Market Update –January 4, 2013

The Money Market
After today’s OMO debit, market liquidity fell to a week record low. As a result, rates rose by about 0.50%, with the secured OBB trading at 10.75% and the overnight funds at 11.00%.

Treasury Bills Market
The Treasury Bills Market was in a bearish mood today with yields rising by an average of 0.20% across most maturities principally because of the CBN’s continuous OMO auction. Major emphasis was on 06-Jun-2013 (Term to Maturity (TTM) 153 days) which went up by 0.40% to close at 12.75 offer.

Daily Market Update –January 3, 2013

The Money Market
Market remained liquid today, despite the announcement of the OMO auction for settlement today. Consequently, the secured OBB and the overnight funds closed at 10.25% and 10.50% respectively.

Treasury Bills Market
The Treasury Bills Market was quite active today with yields dropping an average of 0.10% across board. Major activity was witnessed on the next 91 day bill to be re-opened at the Primary auction which dropped by 0.75% to close at 12.15 offer.

The Bonds Market

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