Thursday, January 17, 2019 6:52:55 PM- Nigerian Stock Exchange.



  How did the fixed income market do today?

      

14 June 2018 ( Lagos ) :


NTB’s and Money Market


Opening market liquidity on Wednesday was N134bn (positive). Interbank rates closed within a range of 15% to 17%. There was a primary market auction of NTBs. The CBN offered and raised N180.9bn from the sale of 91-day, 182-day and 364-day paper at higher stop rates of 10.20%, 10.50% and 11.50% respectively. On the NTB secondary market, yields contracted.


FGN and Euro Bond


The FGN bond market was quiet, and yields were generally flat. At the Eurobond market, yields picked up for all maturities under our coverage other than the very short maturity sovereign.


FX


The CBN’s daily fx intervention was again US$0.5m, at N305.40. Turnover at the NAFEX declined from US$224m on Tuesday to US$126m. Indicative rates ranged from N351 to N362. As widely expected, yesterday the FOMC raised its benchmark rate by 25bps to a range of 1.75% - 2.00%. It signalled that we should expect two more rate hikes this calendar year (rather than the previous one).


Source: Gregory Kronsten, Olubunmi Asaolu, and Chinwe Egwim from FBNQuest Capital Limited

 

 

Reporting for EasyKobo on Thursday, 14 June 2018 in Lagos, Nigeria



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