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Published On: Tue, Nov 13th, 2018

Bond Market yields up slightly by 0.03%

Yields at the Nigerian bond market rose marginally by 0.03 per cent as the market traded relatively flat on Tuesday.

There were slight interests around the mid tenors following the spike in yields in the previous session. Analysts from Zedcrest Securities expect sentiments to remain dampened, as market players remain wary of upward yields pressures ahead of the bond auction next week.

The T-bills segment of the market was slightly bearish, with yields trending higher by 0.13 per cent on average, following slight selloff mostly on the December – March maturities as market

players trimmed positions in anticipation of the Primary Market Auction tomorrow.

“At the PMA tomorrow, we expect yields to clear slightly above their previous levels due to the continued pressure on yields from the frequent OMO auctions by the CBN,” analysts from Zedcrest Securities posited.

Meanwhile, the Open Buy Back and Overnight rates remained relatively unchanged from their previous levels, closing today at 5.67 per cent and 6.58 per cent, as system liquidity remained moderately robust at N293bn positive.

Zedcrest Securities’ analysts expect rates to remain relatively unchanged tomorrow as there are no significant outflows expected.

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