System Liquidity: Liquidity fell 6.13% to ₦7.26trn. The OPR stayed at 20.00% and the overnight rate rose 4 bps to 20.34%. Treasury Bills: Yields were little changed. The 91-day fell 1 bp to 17.48%, the 180-day fell 1 bp to 17.10%, and the 365-day fell 9 bps to 18.49%. FGN Bonds: Yields fell, with buying […]

System Liquidity: Cash improved 32.45% to ₦7.74trn on OMO inflows, and the overnight rate eased 14bps to 20.30%. Treasury Bills: Yields were flat, with the 91-day at 17.49%, the 180-day at 17.11% and the 365-day at 18.58%. FGN Bonds: Buyers came back after the auction, led by the 2034, 2036 and 2038 bonds, and the […]

System Liquidity: Cash in the system fell 7.04% to ₦5.84trn, but it is still high enough to keep funding costs steady. Treasury Bills: Yields fell across the curve on high liquidity. The 91-day bill is at 17.50%. FGN Bonds: Yields rose after the October bond auction. The 20-year jumped 35bps to 15.12%. Foreign Exchange: The […]

System Liquidity: System liquidity rose 55.42% to c.₦6.28trn from c.₦4.04trn on 12-Oct. The overnight rate eased 34bps to 20.38%, and the average T-bill rate fell 153bps to 16.34%. Treasury Bills: The NTB market was mixed. The 91-day yield rose 30bps to 17.53%, while the 365-day fell 10bps to 18.61%. FGN Bonds: Yields rose, led by […]

System Liquidity: System liquidity moderated 3.88% to c. ₦6.06trn but is still high. The Overnight rate eased to 20.38%, and the average funding cost fell 2bps to 20.19%. Treasury Bills: The NTB market was flat, with yields unchanged across the curve. The CBN’s ₦269bn auction from the previous day settled, taking cash out of the […]

System Liquidity: System liquidity fell 2.93% to c. ₦6.30trn but is still high. Overnight rates eased to 20.43%. Treasury Bills: The NTB market was slightly bullish, with yields down 1bp across the curve. At the auction, the CBN allotted ₦269bn of the ₦450bn offered. Demand was strongest for the 364-day bill, with bids of ₦982bn, […]

System Liquidity: Cash in the system jumped 60.55% to c. ₦6.49trn from ₦4.04trn, and short-term rates edged up (Overnight 20.81%, Open Repo 20.40%). Liquidity should stay in surplus, though tomorrow’s ₦450bn T-bill auction may take some cash out. Treasury Bills: Yields barely moved. The 91-day and 180-day fell 1bp each to 17.22% and 17.91%, and […]

System Liquidity:Liquidity rose 8.99% to c. ₦4.04trn. The Overnight rate eased to 20.72%, and the Open Repo rate fell to 20.00%. Liquidity should stay in surplus. Treasury Bills: The market was mixed. The 91-day yield fell 2bps to 17.23%, the 180-day rose 22bps to 17.91%, and the 365-day rose 7bps to 18.71%. The average T-bill […]

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System Liquidity: Liquidity rose 3.35% to c. ₦3.71trn. The Overnight rate edged up to 20.85%, and the Open Repo rate was flat at 20.40%. Liquidity should stay in surplus. Treasury Bills: The market was mixed. The 91-day yield fell 31bps to 17.25%, the 180-day was flat at 17.70%, and the 365-day rose 43bps to 18.64%. […]