FINANCIAL MARKETS TODAY – 27 August 2024
FIXED INCOME MARKETS Money Market The Open Repo Rate (OPR) increased by 253 bps to 27.50%, and the Overnight Rate (O/N) increased by 85 bps to 26.35% due to tight system liquidity. Outlook: We expect interbank rates to nudge higher tomorrow. Treasury…
FINANCIAL MARKETS TODAY – 26 August 2024
FIXED INCOME MARKETS Money Market The Open Repo Rate (OPR) decreased by 81 bps to 24.97%, and the Overnight Rate (O/N) decreased by 67 bps to 25.50% due to ample system liquidity. Outlook: We anticipate that interbank rates will rise tomorrow, depending…
Q2 2024 GDP Highlights
NIGERIA’S GDP GREW AT 3.19% IN Q2’24 YoY In the second quarter of 2024, Nigeria’s Gross Domestic Product (GDP) grew by 3.19% year-on-year, up from 2.98% year-on-year in the first quarter of 2024 and 2.51% year-on-year in the second…
FINANCIAL MARKETS WEEKLY – 23 AUGUST 2024
FIXED INCOME MARKETS Money Markets Despite the outflows from NTB and FGN local bond auction settlements, FAAC credits and bond coupon led system liquidity to close the week with a positive balance. Consequently, the Open Repo Rate (OPR) and the Overnight…
FINANCIAL MARKETS TODAY – 22 August 2024
FIXED INCOME MARKETS Money Market The Open Repo Rate (OPR) decreased by 42 bps to 25.63%, and the Overnight Rate (O/N) decreased by 55 bps to 26.05% due to the increase in opening system liquidity today. Outlook: We expect interbank rates to stay at…
FINANCIAL MARKETS TODAY – 21 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity increased today, causing the Open Repo Rate (OPR) to decrease by 764 bps to 26.05%, while the Overnight Rate (O/N) decreased by 776 bps to 26.60%. Outlook: We expect interbank rates to stay at…
FINANCIAL MARKETS TODAY – 20 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity declined significantly today. Thus, the Open Repo Rate (OPR) increased by 499 bps to 33.69%, and the Overnight Rate (O/N) rose by 498 bps to 34.36%. Outlook: We expect interbank rates to stay…
FINANCIAL MARKETS TODAY – 19 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity increased significantly today. Thus, the Open Repo Rate (OPR) decreased by 360 bps to 28.70%, and the Overnight Rate (O/N) dropped by 360 bps to 29.38%. Outlook: We expect interbank rates to…
FINANCIAL MARKETS WEEKLY – 16 AUGUST 2024
FIXED INCOME MARKETS Money Markets During the early part of the week, system liquidity was positive. As the week progressed, liquidity improved and resulted in a surplus balance from the middle of the week to the end. Consequently, the Open Repo Rate…
FINANCIAL MARKETS TODAY – 15 August 2024
FIXED INCOME MARKETS Money Market Opening system liquidity stayed positive today. Thus, the Open Repo Rate (OPR) decreased by 173 bps to 32.44%, and the Overnight Rate (O/N) dropped by 184 bps to 33.22%. Outlook: We expect opening system liquidity to…
