Thursday, January 17, 2019 9:40:58 AM- Nigerian Stock Exchange.

  Latest Fixed income Update- June 05


05 June ( Lagos)

NTBs & money market 

Opening market liquidity on Monday was N419bn (positive). Interbank rates closed within a range of  3% to 8%. On the NTB secondary market, yields picked up for most maturities

FGN bonds & Eurobonds 

The FGN bond market was relatively quiet. There was an uptick in yields across traded maturities. As for the Eurobond market, yields narrowed for all sovereigns under our coverage. 


The CBN’s daily fx intervention was again US$0.5m, at N305.50. Additionally, there was a wholesale fx SMIS. Turnover at the NAFEX more than doubled from US$243m on Friday to US$592m. Indicative rates ranged from N320 to N363. The USD slid during Monday’s trading after record highs last week. 

Crude Oil

Oil prices fell on the back of record US production (of 10.47 mbpd average in March). US oil rig count data from Baker Hughes increased last week to levels not seen since March 2015. Meanwhile, OPEC, driven by Saudi and its Gulf allies, may decide to boost output at its upcoming June 22 meeting.

Source: Analysts from FBNQuest Capital Limited

Reporting for EasyKobo on Monday, 05 June 2018 from Lagos, Nigeria

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