Tag Archives: Nigerian Fixed Income

Nigeria – Fixed Income Weekly

The week that was (May 16-20) Tight system liquidity pressures short-term interest rates, net buying on the long-end: Money markets were tight during the week on account of large outflows to fund the monthly bond auction settlements. As a result, interbank rates closed the week at the ceiling of 12.25-12.5%. (Note: In contrast to prior […]

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 5-8) – Yield declines on improved liquidity Switch in OMO tenors and higher system liquidity drives yields lower: Benchmark Nigerian Treasury Bill (NTB) yields declined 63bps on average to 18.55% (91-day), 19.09% (182-day) and 21.02% (1yr) owing to a combination of improved system liquidity and market response to CBN signals […]

Nigeria – Fixed Income Weekly #2

The week that was (July 24-28) – Yield curve rises as CBN signals ‘no retreat, no surrender’ on tightening Benchmark NTB yields inch higher as CBN remains committed to tightening: Despite a liquidity deluge from OMO & FGN bond maturities and FAAC inflows, which drove OBB and O/N rates into single digits at the end […]