Securities

The T-bills market traded on a relatively flat note, with mixed trading sentiments witnessed over the course of the day.

At the parallel market, the cash rates depreciated by 10k to N359.80/$, while the transfer rate remained unchanged at N362.00/$.

The OBB and OVN rates remained relatively stable, closing today at 4.17% and 4.75% respectively,

We expect rates to remain moderated tomorrow due to expected inflows from OMO T-bill maturities (c.N218bn).

CBN is scheduled to hold a Treasury Bills PMA on 20th September, 2018.

Barring a renewed OMO auction by the CBN, rates should remain relatively stable tomorrow.

Yields Trend Higher following Hike in CBN OMO Stop Rate

Central Bank makes a U-turn, raises rate to 12.50% for the 182days OMO Bills

We expect the market to be order driven with some client demand expected to take advantage of yields available

DMO has released details for the September 2018 FGN Savings Bond offer.