Monthly Archives: September 2018
Nigeria Fixed Income Weekly
The Week that was (September 17-21): – Yields moderate as CBN mellows on liquidity Yields moderate as CBN allows liquidity build-up ahead of NTB auction: After last week’s uncoordinated sterilization activity (which saw the CBN re-introduce a one-year OMO bill at higher yields) resulted in higher rates at the NTB auction, the CBN adopted a […]
Nigeria Fixed Income Weekly
The Week that was (September 10-14): – Yield curve flattens out thanks to tacit CBN tightening moves CBN raises OMO yields by elongating tenor on offer…: After the no-show at the OMO auction last week, the CBN returned to money markets with a fresh attempt at culling excess NGN liquidity on Monday though demand remained […]
Nigeria Fixed Income Weekly
The Week that was (September 3-7): – CBN blinks on OMO rates, sending NTB yields higher CBN raises OMO rates fearing liquidity impact: Fixed income markets opened the week sufficiently liquid reflecting the hangover from the prior week when the CBN did not sell any OMO paper. Accordingly, system liquidity indicators i.e. the OBB/Overnight rates […]
Nigeria Fixed Income Weekly
The Week that was (August 24-28): – Shocker at NTB auction sends yields higher, but CBN surprises Yields close higher at the NTB auction: Over the month of August, robust system liquidity implied that short term interest rates had remained insulated from the rising pattern observed in longer dated bonds where heightened offshore selling was […]
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