Report
FREE
N267 billion, Interbank Call rate rose 17bps to 5.0%. At the FX Interbank market, the Naira depreciated 33 to NGN281.63/USD.At the T-bills market traded mixed (albeit with a bullish bias). Whilst buying persisted on the mid to long end of the space, modest sell off was recorded on the short end. Overall, yields declined 17bps on average across maturities. Particularly, the 160DTM (-72bps) and 307DTM (-87bps) recorded the most notable decline to close at 9.89% and 11.23% respectively whilst the 27DTM (14bps) recorded the most notable uptick to close at 6.48% respectively. Meanwhile, the bond market remained bullish as buying momentum strengthened across the space. Overall yields decline 35bps on average across maturities with the 15.10% FGN APR 2017 and 12.1493% FGN JUL 2034 recording the most notable declines, down 47bps apiece to 12.01% and 13.90%respectively.Given the strength of the buying interest observed across the fixed income space (yield moderated all through the week), we expect gains to filter into the coming sessions albeit cautiously.
Nigeria_Fixed Income Daily: Markets trade upbeat at month open
Market commentary
Despite an improvement in system liquidity to c.
Provider
Vetiva Capital Management
Vetiva provides clients with independent and unbiased access to analysis and opinion. We keep our clients on the cutting edge of market information and provide up to date market intelligence on quoted companies. Our services allow brokers, investment firms, and asset managers focus their energies on developing investment strategies and client relationships.
Other Reports from Vetiva Capital Management
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.