Weekly Market Report MPC Edition : February 23 -27th, 2026
Fixed Income in Focus: The week opened on muted trading with system liquidity in surplus at ₦2.6tn as focus centered on the bond auction and early-week MPC print. The bond auction cleared bullish at 15.50–15.74% on a 3.37x cover across re-opened tenors, tightening a further c.45bps post-auction on surplus demand with execution at 15.10–15.20%. The […]
Weekly Market Report: February 16th – 20th, 2026
Fixed Income in Focus: The market opened the week subdued, with system liquidity firm at ₦4.68tn, as CBN conducted short-dated OMO auctions (8/99-day and 7/105-day), clearing at 22.39% and 19.48% on c.3.8x cover. The T-bills market rallied into the mid-week auction, with demand skewed to the long end as the 365-day (18-Feb) bill cleared c.100bps […]
Weekly Market Report: February 9 – 13th, 2026
Fixed Income in Focus: Market opened the week with net liquidity of ₦2.8tn, supporting early buying across the curve. In Treasury Bills, flows were mixed, with demand skewed to the long end (21-Jan and 04-Feb) where early prints cleared at 15.95–16.00%. As the week progressed, mild profit-taking saw the T-bills backup by c.5–10bps, with executions […]
Weekly Market Report: January 26 – 30th, 2026
Fixed Income in Focus: The week opened with net liquidity of ₦3.9tn, setting the stage for a bullish bond auction that drew broad-based demand across tenors, with a 2.5x cover. Post-auction, the bond market rallied, with reopened mid-tenors (5–10yr) executing around 16.55–16.80% by close. The Treasury Bill market remained firm, with the 21-Jan issue trading […]
Weekly Market Report: February 2nd – 6th, 2026
Fixed Income in Focus: Markets opened the week with system liquidity firm at ₦596bn and bullish activity evident across the curve. The Treasury bills space saw muted participation ahead of the mid-week auction, which cleared bullish (-137bps vs. previous auction) with heavy demand on the 364-day bill (5.5x cover). Post-auction unmet demand spilled into the […]
Weekly Market Report: January 12 – 16th, 2026
Fixed Income in Focus: The week opened with robust activity across the curve, supported by firm system liquidity of c.₦1.47tn. With no scheduled auctions, trading was driven by secondary market flows and mid-week CPI, which printed 15.15% (down 218bps vs Nov on the post-rebase series). The T-bill market started the week on a bullish footing, […]
Weekly Market Report: January 5 – 9th , 2026
Fixed Income in Focus: The week opened with surplus system liquidity of c.₦3.4tn amid muted trading and no update on the Q1 auction calendar. Early flows were mixed, with the 17-Dec, 10-Dec and 19-Nov NTBs trading around 16.30–16.60%. Mid-week, the DMO issued an auction notice indicating a 65.2% increase in supply versus the prior auction, […]
Weekly Market Report: December 29 – Jan 2nd, 2026
Fixed Income in Focus: The week opened quietly, with system liquidity anchored at a ₦4.02tn surplus amid a shortened trading week into year-end. OMO activity led the tone, with 168- and 210-day bills (02-Jun and 21-Jul) trading at 18.95–19.05% ahead of the CBN’s early-week OMO auction. The CBN reissued similar tenors (16-Jun and 28-Jul) and […]
Weekly Market Report: December 22 – 24th, 2025
Fixed Income in Focus: The week opened quietly amid shortened trading days(Mon-Wed) due to the seasonal holidays, with system liquidity ample at ₦2.15tn. The CBN conducted an early-week OMO auction which closed with a strong 2.88x total cover, as stop rates on the 162-day and 211-day OMO bills printed at 19.38% and 19.42%, respectively. Post-auction, […]
Weekly Market Report: December 15 – 19th, 2025
Fixed Income in Focus: The week opened with surplus liquidity of ₦2.58tn ahead of the early-week FGN bond auction (2030s and 2032s re-openings), which cleared +130bps above previous marginal rates but below forecast, printing 1.56x and 1.48x cover. Monday’s inflation print showed a continued disinflation trend, with November headline CPI easing 160bps to 14.45%, supporting […]