THERE are high expectations that money market rates are likely to moderate on a mixture of Open Market Operation (OMO) maturities (inflow) and Bond auctions (outflows). “Also, it is expected that an OMO maturity of N64.3billion will impact on liquidity levels while the CBN continues with its unpredictable OMO mop ups. Meanwhile, the Debt Management Office (DMO) will be conducting its first FGN Bond auction for the year this week. Notwithstanding, Nigerian Eurobonds witnessed the most buying interest with yields falling on 4 of 6 instruments contrary to other countries. Average yield rose 17bps, 5bps, 3bps, 7bps, 14bps and 8bps on the Ghanaian, Gabonese, Ivory Coast, Kenyan, Senegalese and South African instruments.

Source: Nigerian Tribune January 22, 2018 01:11 UTC