Email this page
Print this page
Market Update
HIGHLIGHTS for the week ended Friday 02/05/08
  • Liquidity persisted in the market inspite of aggressive mop-up by the CBN.
  • OBB & Overnight rates opened at 6% and 6.5% respectively, but increased slightly by the end of the week to close at 7% & 8% respectively.
  • The bonds market was very active with yields on 3year bonds declining as a result of increase in demand.
  • Yields in the Treasury bills secondary market continued to decline; a fallout of the extreme liquidity in the interbank market.
  • Stop rate at the 91-days Primary Auction increased slightly from 8.10% to 8.15%
  • However, the 182-days Primary Auction stop rate decreased from 9.25% to 9.20%
  • The market witnessed a net outflow of =N=165,650 million through the Primary & OMO markets.
  • Outflow through FX this week was about =N=3,182.49 million as against =N=1,885.9illion the previous week.
Week Starting Monday 05/05/08

 
N billion
 NTB Floatation - 91 days
            
 NTB Floatation - 182 days
            
 Maturing Bills(PRY) - 91 days
5.11            
 Maturing Bills(PRY) - 182 days
35.00            
 Maturing Bills(OMO)Mon
0.00            
 Maturing Bills(OMO)Tues
0.00            
 Maturing Bills(OMO) Wed
0.00            
 Maturing Bills(OMO) Thurs
74.80            
 Maturing Bills(OMO) Fri
0.00            

Outlook for the week starting Monday 05/05/08

  • Market is expected to remain liquid as Tenored Reverse REPO begin to mature into the system.
  • CBN is expected to continue aggressive mop-up of excess liquidity.

- top -

 
Quote of the Week Word of the Day
It is not with saying, "Honey," "Honey," that sweetness will come into the mouth.

- (African)
pugnacious