Report
FREE
Nigeria_Fixed Income Daily: Yields moderate further at week open
Market commentary
Interbank Call rate rose to 32% (previous: 21.%) amidst sustained tight system liquidity. At the FX Interbank market, the Naira depreciated NGN1.11 to NGN282.15/USD.Trading in the T-bills market opened the week mixed (albeit with bullish bias) as modest demand on a few maturities offset sell offs on others. Overall, yields declined 38bps on average across all maturities. The 24DTM bill (-203bps) recorded the most notable yield decline whilst the 206DTM (+202bps) recorded the most significant uptick, closing at 8.62% and 12.02% respectively. Similarly, the bond market open the week upbeat as yields declined 18bps on average across maturities. The most notable yield declines were recorded on the 15.54% FGN FEB 2020 and 12.50% FGN JAN 2026 bonds, down 24bps and 30bps to 14.12% and 14.48% respectively.Despite the upbeat market sentiment observed in today’s session, we expect mixed trading to resurface in tomorrow’s session as investors remain cautious.
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.