Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Market Update: CBN conducts further OMO auction to mop up excess system inflows

Zedcrest Capital by Zedcrest Capital
May 8, 2019
in Business News, Markets, Securities
NSE records 18.18% decline in banks' market capitalisation, Best performing stocks on the NSE Year-to-date
Share on FacebookShare on TwitterShare on Linkedin

Daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills, bonds, FX rates, inflation, oil price.

The report is dated May 7th, 2019.

***Creative industry to access up to N500m loans*** – CBN

RelatedPosts

At 17.7% inflation rate, investors stake N391 billion in treasury bills at average interest rate of 6%

CBN June 2022 treasury bills auction oversubscribed

Key Indicators

Bonds: The Bond market traded on a relatively flat note with some demand on the 2023s compressing yields marginally lower by c.3bps on average. We also witnessed slight demand on some mid and long tenured maturities, with market players showing renewed interest closer to c.14.60% levels.

We expect yields to remain relatively stable in the near term, as the CBN maintains a slight moderation on the short term OMO T-bill rates.

Treasury Bills: Yields in the T-bills market trended slightly higher, as the CBN announced a new round of OMO offerings due to the signifcantly robust system liqudity levels. The OMO auction remain oversubscribed with a 1.55 bid to cover ratio, and demand still skewed to the longer tenured offering. A total of c.N172.68bn T-bills were sold, with rates slightly lower across all tenors.

We expect rates to remain relatively stable tomorrow due to the still robust system liquidity levels. This is however barring a further OMO sale by the CBN.

Money Market: The OBB and OVN rates declined slightly by c.1pct, as system liquidity remained robust due to inflows from discounted promissory notes by the CBN. The OBB and OVN rates consequently ended the session at 10.07% and 10.86% respectively, with system liquidity now estimated at c.N300bn.

We expect rates to remain relatively stable, barring a significant OMO sale by the CBN.

FX Market: At the Interbank, the Naira/USD rate rose slightly by 0.02% and 0.04% to N307.00/$ (spot) and N356.60/$ (SMIS) respectively. The NAFEX closing rate in the I&E window however fell by 0.07% to N360.99/$. At the parallel market, the cash rate fell by 0.03% to N358.90/$, while the transfer rate remained unchanged at N363.50/$.

Eurobonds: The NGERIA Sovereigns remained slightly bearish, with yields higher by c.3bps, following further selloff on the long end of the curve, amid a decline in oil prices and weaker EM sentiments from the US Tariff threat on China.

In the NIGERIA Corps we witnessed renewed interests on the longer dated tickers, notably on the UBANL and FIDBAN 22s. We however witnessed better sellers of the ETINL 24s.

________________________________________________________________________

Contact us:

Dealing Desk: 01-6311667 Email: research@zedcrestcapital.com

Related

Tags: BONDSMoney Markettreasury bills

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Just like the internet, digital currency is here to stay
    • Nigerian banks’ total assets surged by a whopping N11.15 trillion within one year
    • FX scarcity continues to bite hard in Nigeria

    Follow us on social media:

    Recent News

    Appzone boss, Obi Emetarom, canvasses for adoption of regulated digital currencies

    Just like the internet, digital currency is here to stay

    July 4, 2022
    CRR Debits hits N10 trillion in first 9 months of 2021

    Nigerian banks’ total assets surged by a whopping N11.15 trillion within one year

    July 4, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com