Nigeria_Fixed Income: FI market trades mixed amidst tight liquidity
​In the absence of an OMO auction from the CBN, the T-bills market traded upbeat (with mild selloff on a few maturities) as yields declined 4bps on the average. Demand was most evident on the short end of the bill space as yields on the 20DTM and 34DTM bills moderated 52bps and 47bps to close at 3.23% and 3.25% respectively. However, buying tapered down in the bond market with yields up 4bps on the average across the traded maturities. The pressure was most notable around the short-mid maturities. Particularly, the 16.00% FGN JUN 2019 and 16.39% FGN JAN 2022 bonds recorded the most significant rise in yield, up 18bps and 17bps to close at 11.48% and 11.86% respectively.
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