FBNQuest FI-FX Daily Watch 13 September 2017
Market liquidity on Tuesday was estimated at N227bn (negative). Interbank rates traded up to and beyond 20% levels. At an OMO auction of NTBs yesterday, the CBN raised N4bn from the sale of the 191-day maturity at a stop rate of 17.95%. There were no sales of the 86-day paper. On the secondary market, there was some activity as yields picked up across traded maturities.
The FGN bond market was relatively quiet, yields were generally flat. However, for a few traded maturities, yields dipped marginally. On the Eurobond market, yields showed no clear direction.