Fixed Income in Focus: The week opened with sentiment skewed bearish despite net system liquidity firm at c.₦2.19tn. The T-bills market began on a softer note, with the 19-Nov bill pulling back c.15bps ahead of the mid-week auction, which cleared

Fixed Income in Focus: The week opened on a mild note with surplus liquidity of about c.₦1.2tn, as attention centered on Monday’s FGN bond auction, which cleared 11.5bps and 15bps higher on the reopened 2030s and 2032s at an overall

Fixed Income in Focus: The week opened quietly ahead of the October inflation print, with system liquidity surplus at c.₦1.3tn. Trading opened with mid-tenor bonds rallying after headline inflation fell to 16.08% (-197bps m/m), though profit-taking later in the week

Fixed Income in Focus: The week opened with c.₦3.8tn in system surplus liquidity. In the NTB market, demand was skewed to the long end, with October and November bills trading below 15.50%. In the bond market, activity was broad-based, with

Fixed Income in Focus: The week opened liquid ₦3.09tn in anticipation of activity from the scheduled mid-week auctions. Early week activity saw buying interest in both bonds and T-Bills, with interest centered around the mid-tenor Bonds and the 1-year 22-Oct

Fixed Income in Focus: The market opened in anticipation of the FGN bond auction, which cleared with aggressive demand c.4.9x cover and pushed marginal rates 16-35 bps below the previous auction. Secondary trading turned mixed thereafter, an early bullish tone