Nigeria_Fixed Income Daily: Broad based selloff drives yields higher
​Interbank placement rates advanced across all tenors in today’s session (up 71bps on average) – with the Call rate up 217bps to close at 15%. At the FX interbank market, the Naira depreciated 55 kobo to NGN199.05/USD, after recording an intraday low of NGN199.25/USD. With a relatively tighter system liquidity, yields raced north in the T-bills market in today’s session (up 41bps on average). Similarly, trading pattern in the bond market turned bearish as yields rose 6bps on average. The most notable rise in yield was recorded on the 15.54 FGN FEB 2020 bond - up 25bps to 11.56%.
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