Monthly Archives: October 2017
Nigeria Fixed Income Weekly
The week that was (October 23-27) – Tight liquidity conditions drives yields modestly higher CBN’s renewed onslaught on liquidity amid thin maturities nudges rates higher: In a continuing pattern from the prior week, the CBN maintained its assault on NGN liquidity with issuance of N181billion worth of OMO bills as against N93billion in maturities which […]
Nigeria Fixed Income Weekly
The week that was (October 15-20) – Divergent trends across the curve CBN’s liquidity curbing antics drives short dated rates higher: In a continuation from last week, the CBN continued to slowly clamp down on system liquidity with issuance of N184billion worth of OMO bills as against N166billion in maturities which nudged benchmark Nigerian Treasury […]
Nigeria Fixed Income Weekly
The week that was (October 09-13) – A tale of two curves Thin liquidity levels and CBN aggression drives short dated rates higher: Coming into the week, a relatively thin maturity profile over the week (N62billion) hinted at likely scope for rates to trend higher. Furthermore, with no planned government borrowings, there was sufficient scope […]
Nigeria Fixed Income Weekly
The week that was (October 03-06) – Foreign participation and diminishing supply lengthens debt market rally Elevated liquidity continues to drive bullish sentiment: Despite an uptick in CBN OMO bill issuance with N422billion issued last week (as against N283billion in maturities), rates along the NGN yield curve continued to head south. Yields on benchmark Nigerian […]
Nigeria Fixed Income Weekly
The week that was (Sept 25-29) – Dovish MPC signals induce strong duration buying Mixed patterns across the yield curve: The two segments of the NGN yield curve moved in different directions as short dated yields closed the week higher than the prior week with benchmark tenors up on average 50bps: 91-day (discount: 18.16, effective […]
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