Nigeria_Fixed Income Daily: Mid-week rally supported by liquidity
​Ahead of the PMA result, the T-bill market traded largely upbeat as robust system liquidity spurred demand across most traded maturities (yields declined 10bps on average). Notably, the 8DTM (-39bps) and 15DTM (-41bps) bills recorded the most significant declines to close at 3.78% and 4.14% respectively. Likewise, sentiment reversed in the bond market across most maturities as yields moderated 26bps on average. Particularly, the 10.00% FGN JUL 2030 and 12.1493% FGN JUL 2034 bonds shed 19bps and 20bps to 12.38% an 12.49% respectively.
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