NITTY Rises for All Tenor Buckets on Financial Liquidity Strain…

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In the just concluded week, there was no
auction in the primary market. NIBOR fell for
most of the tenor Burket being tracked.

Specifically, NIBOR for 1 month, 3 months
and 6 months maturities decreased to 9.33%
(from 10.53%), 11.05%(from 11.31%) and
11.10% (from 11.92%) respectively.

However, the Overnite tenor bucket rose by
1.42% to close at 14.00%.

Also, NITTY rose for all of the tenor buckets tracked as we saw NTB of about 25.94 billion matured in the week.

Specifically, 1 month 3 months, 6 months and 12 months tenor increased to 3.34%(from 3.11%), 3.80%(from 3.51%), 4.46%(from 3.95%) and 6.04%(from 4.93%).

In the new week, OMO worth N60 billion will mature via the secondary market.

Hence, hence, we expect interbank rates to move in mixed directions amid a marginal inflow of matured OMO.