The Money Market

Market opened about N193.00billion down today as rates rose to the highest levels seen this year. Secured lending rate (OBB) and overnight closed at 15.50% and 17.00% respectively.

However, a net maturity of about N88billion is expected from Treasure bills tomorrow; this should slightly calm the naira market, unless the Central Bank mops the excess through an Open Market Operation (OMO) auction.

Treasury Bills Market

The Treasure bills market was relatively quiet today with minimal activities witnessed as traders waited for the result of the Primary Market Auction which held today.

Current Benchmark yields are;
91days – 14.10%
182 days –14.85%
364 days –14.80%

Read More:.....http://myfinancialintelligence.com/index.php/2011-09-27-04-13-15/markets/35335-daily-market-update-june-20-2012