By Modupe Gbadeyanka
Market players had their focus on the upcoming Primary Market Auction (PMA) as a total offer of N50 billion OMO sale was left unsubscribed.
Expectedly, the OBB (9.3%) and Overnight (10.0%) rates edged lower by 142bps apiece.
Sell-side sentiment at the longer end of the curve stoked a bearish close to the T-bills market, expanding average T-bills yield by 24bps to finish at 20.2 percent.
Similarly, modest sell-side pressure in the 7Y instrument nudged average bond yields marginally higher by 1bp to close at 15.7 percent.
The upcoming PMA auction is likely to be significantly oversubscribed, to dictate sentiments in the FI space in the next trading session.
United Capital Plc
more recommended stories
Guinea Insurance Seeks More Time to File FY 2018, Q1 2019 Results
By Dipo Olowookere The management of.
FarmCrowdy, Livestock247 Partner to Boost Trading
A partnership aimed to deepen the.
Why You Should Consider Investing in Eurobond Funds
By United Capital Research Last week,.
Zedcrest Capital’s Amzat, Others to Speak at Lagos FINTECH Week
Group Managing Director of Zedcrest Capital.
Buhari to Empower 10m Traders, Farmers During Second Term
By Modupe Gbadeyanka No fewer than.
Africa Prudential Considers New Ventures to Improve Earnings
By Modupe Gbadeyanka Managing Director/CEO of.
Team Ren Excalibur Wins Renmoney’s Hackathon
By Modupe Gbadeyanka One of Nigeria’s.
Unilever Nigeria Revenue Drops to N19bn in Q1 2019
By Dipo Olowookere Lagos-based Fast-Moving Consumer.