Report
FREE
Nigeria_Fixed Income Daily: Yields moderate at week close
Market commentary
Amidst sustained tight system liquidity, Interbank Call rate moderated to 21.7% (previous: 34.50%). At the FX Interbank market, the Naira appreciated NGN2.86 to NGN281.14/USD.Trading in T-bills market turned bullish as bargain hunting resurfaced with yields declining 94bps on average across maturities. Particularly, the 209DTM (-476bps) and 272DTM (-312bps) recorded the most notable decline in yields to close at 10.00% and 10.97% respectively. Similarly, the bond market traded with a bullish bias as yields declined 42bps on average across traded maturities. The most notable yield declines were recorded on the 15.10% FGN APR 2017 and 16.39% FGN JAN 2022 bonds, down 176bps and 36bps to 12.21% and 14.22% respectively.Notwithstanding today’s gains, we anticipate cautious trading in the coming sessions as investors weigh the developments in the macro-environment following the “BREXIT†decision.
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.