Markets

Daily Market Update –December 31, 2012

Photo L–R: Oscar Onyema, CEO of the Nigerian Stock Exchange; Atuyota Akporobomeriere a.k.a. Ali Baba, Ace Laughter Merchant; Tunde Adewale a.k.a. Tee-A; and Mandy Uzonitsha, pioneer female stand-up comedian at the Year End Trade Closing Ceremony of The Exchange in Lagos today.

The Money Market
Interest rates remained stable today as the Money Market is still wash with liquidity. Consequently, the secured OBB and the overnight funds closed at 10.25% and 10.50% respectively.

The Bonds Market

Daily Market Update –December 27, 2012

The Money Market
The money market remained liquid and was boosted by a net cash credit of ₦142 billion (treasury bills maturity), as a result rates came down by about a 1.00% from previous close.

Rates on the secured borrowings and overnight funds remained at 10.25% and 10.50% respectively.

The Bonds Market
The FGN Bond Market witnessed no activity today as this is due to the festive season break.

Daily Market Update –December 24, 2012

The Money Market
Interest rates opened at previous close. However, CBN carried out an OMO Session and floated ₦120 billion. As a result of this, rates trended up by 1.00% to where it closed. Rates on secured borrowings and overnight funds closed at 11.25% and 11.50% respectively.

Treasury Bills Market
The Treasury Bills market was very quiet today, with a slight drop in yields by an average of 0.05% across all tenured brackets.

The Bonds Market

Daily Market Update –December 20, 2012

The Money Market
Despite the Central Bank’s liquidity tightening activities with the flotation of ₦200 billion in OMO Treasury bills, interest rates remained stable as the money market was still awash with liquidity. Rates on the secured OBB and the overnight funds subsequently closed at 10.25% and 10.50% respectively.

Treasury Bills Market

Daily Market Update –December 18, 2012

The Money Market
Market opened today with a short position, as market liquidity declined further, rates therefore opened at 0.25% above the previous day close. However, shortly into trading, Federal Account Allocation Committee (FAAC) funds were credited into the system dropping rates significantly to as low as 10% levels. Hence, the market saw the secured OBB and the overnight funds trading at 10.50% and 10.75% respectively.

Treasury Bills Market

Daily Market Update –December 17, 2012

The Money Market
Market liquidity fell to a two month record low opening today after Fridays WDAS debit. Rates therefore remained stable at previous close with the secured OBB and the overnight funds trading at 14.50% and 14.75% respectively. An improvement in market liquidity is expected this week as we anticipate the credit of FAAC (Federal Account Allocation Committee) funds into the system.

Treasury Bills Market

Daily Market Update –December 14, 2012

The Money Market
Market liquidity declined further today due to the WDAS debit totalling ₦28 billion. As a result, rates went up by about 1.00%. Thereupon, the secured OBB and the overnight funds traded at 14.55% and 14.75% respectively. An improvement in market liquidity is expected next week as the market anticipates the credit of FAAC funds (Federal Account Allocation Committee) into the system.

Treasury Bills Market

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