…The overnight lending rate remained unchanged at 22.7% despite inflows from OMO maturities (N1.37 trillion).
…In the OMO auction held last week total subscriptions printed at N1.33 trillion versus N600 billion on offer
WED JAN 07 2026-theGBJournal|The Nigerian fixed income market traded mixed on Tuesday with bearish note as yields fell as a result of the strong liquidity in the system, and demand for securities in the market.
Market capitalization consequently stayed unchanged at N51.48 trillion.
Meanwhile, the treasury bills average yield expanded by 19bps to 17.7%.
Across the curve, the average yield expanded at the short (+2bps), mid (+13bps) and long (+32bps) segments driven by the selloffs of the 79DTM (+21bps), 135DTM (+26bps) and 338DTM (+52bps) bills, respectively.
Conversely, the average yield contracted by 5bps to 21.6% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note albeit with a bearish tilt, as the average yield expanded by 1bp to 16.5%.
Across the curve, the average yield expanded at the short (+3bps) end, driven by sell pressures on the FEB-2031 (+10bps) bond, but remained unchanged at the mid and long segments.
The overnight lending rate remained unchanged at 22.7% despite inflows from OMO maturities (N1.37 trillion).
In the OMO auction held last week total subscriptions printed at N1.33 trillion versus N600 billion on offer, with demand largely concentrated on the longer-dated 210-day paper.
Total sale was N1.27 trillion reinforcing its intent to mop up excess liquidity, while clearing rates for the 168-day was 19.35% and for the 210-day paper was 19.41% reflecting investors ‘desire to lock in attractive carry into year-end. Bid to cover ratio was 1.61x and 1.02x on both tenors.
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