Central Bank Sterilizes N1.30Trillion Of Bank Deposits To Combat Excess System Liquidity
Bonds & Fixed Income
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Friday, April 25, 2020 / 07:03 PM / Zedcrest Capital / Header Image Credit: Virtual Data Room
Below are highlights of trading activities in the fixed income and forex market on April 24, 2020
FGN Bonds
It was a calm session to close the week in the Bonds Market, as the news IMF's recommendation of a possible $3.4Billion emergency funding loan to Nigeria dominated the focus of market participants. While demand at the short- and mid-end of the curve persisted, we noticed continued apathy for longer duration from investors with relatively low volumes crossed during the trading session. Yields consequently dropped by c.5bps on the average across the benchmark curve.
We expect yields to face some pressure going into the new week, as tightened system liquidity and month-end profit-taking bring improved supply to the markets.
Benchmark FGN Bonds
Source:https://www.proshareng.com/news/ BO...osits-To-Combat-Excess-System-Liquidity/50656
