The Money Market

Market opened about N8billion up today. Rates came down by over 1.00% because of improvement in liquidity. OBB and overnight closed at 14.25% and 14.75% respectively. They had closed high at 16.00% and 16.50% yesterday.

We expect rates to come further down in the coming days with the Federal Account Allocation Committee (FAAC) disbursement inflow of about N240billion into the market being imminent.

Treasury Bills Market

The Treasure Bills market was moderately calm today with minimal trading activities witnessed. The little activity was on the October 2012 bill which saw about 5.10% drop in yields.

Current Benchmark yields are;
91days – 14.10%
182 days –15.05%
364 days –14.80%

The Bonds Market

The Bond market was very quiet today, with minimal trading activities. Prices closed flat across all maturities, with just a 10kobo increase seen on the Jan 2022 (9s1).

Read More:....http://myfinancialintelligence.com/index.php/2011-09-27-04-13-15/markets/35725-daily-market-update-june-21-2012