NTB Auction: DMO raise NTB stop rates by 133bps

DMO Raise NTB Stop Rates by 133bps

By Analysts at Zedcrest Capital FGN Bonds The FGN Bond market continued to trade on a strong note, as spreads tightened at the belly and tail of the FGN Bond curve, following sustained speculative demand. We witnessed sustained interest for the long-tenured bonds, with pushed yields on the 2034s to 2037s papers down by c.20bps on the day. The 2045s and 2049s papers also saw some demand, closing lower by c.20bps as well eventually trading hands at 11.10% levels. Overall, yields compressed by c.10bps on the average across the FGN…

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Treasury Bills: Experts expect short, medium term instruments to contract

Treasury Bills: Experts expect short, medium term instruments to contract

Financial services experts in Nigeria expect the volume of Nigerian Treasury Bills (NTBs) issuance to reduce in the short to medium term. This was unequivocally expressed in Zenith Bank’s weekly economic intelligence report published on Wednesday. The report is coming just days after the Central Bank of Nigeria (CBN) released its Treasury Bills calendar for the third quarter (Q3) of 2020. The calendar showed the apex bank’s projection to raise about N822 billion between June and August, this year. According to the calendar, some 91-day tenured bills valued at N109.65 will…

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