In the just concluded week, there was
auction in the market which resulted in the
bullish run on a week on week comparision
amid buy pressure.
Generally, NIBOR for Overnight, 1 month, 3 months and 6 months maturities increased to 12.58% (from 10.75%), 10.53% (from 9.33%), 11.31%(from 10.23%) and 11.92% (from 10.44%)
respectively On the flip side, NITTY rose for
most tenor bucket tracked.
Specifically, 1 month, 6 months and 12 months tenor increased to 3.11%(from 3.07%), 3.95%(from 3.88%) and 4.93%(from 4.84%).
Meanwhile, in the OMO market, we saw maturity worth N35 billion for the week under review without refinancing.
In the new week, OMO worth N30 billion will mature via the secondary market also NTB worth of N25.94 billion will mature in the coming week.
Hence, hence, we expect interbank rates to move in mixed directions amid marginal inflow of matured bills.