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MarketNews
The Central Bank of Nigeria (CBN) allotted OMO bills to match the aggregate subscription from investors seeking high-yield naira assets at the primary market auction.
Nigerian deposit money banks (DMBs) placements at the Central Bank of Nigeria (CBN) Standing deposit Facility (SDF) window edged higher on midweek as the authority slowdown aggressive liquidity management action.
Excess liquidity in the Nigerian financial system surged about 33% after heavy OMO bill
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The US dollar rose against its major trading partners early Wednesday before a quiet data schedule for the remainder of the day that includes only weekly petroleum stocks data.
Trading activity in the secondary market for FGN bond stayed on a calmer note, causing the average yield to clip at 19.44%. With a widening inflation rate, the negative real return on Nigerian bond investment has increased to about 7%.
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Money market rates diverged on the back of movement in liquidity balance in the financial system. The short-term benchmark interest rates mixed after inflows from matured OMO bills and swap inflows lifted the liquidity balance.