July 21, 2022/United Capital Research On Monday, the Debt Management Office (DMO) conducted its July FGN bond auction, its first auction in H2-2022. The DMO offered N225bn across three (3) tenors, the MAR 2025 (three-year bond), APR 2032 (10-year bond) and JAN 2042 (20-year bond). Overall, investor demand was lax […]
Updates
Sub-Optimal Demand at DMO’s Latest Bond Auction
July 20, 2022/Coronation Research The DMO held its monthly auction of FGN bonds on Monday. It offered N225bn but raised N123.9bn (USD288.7m) through re-openings of the 2025, 2032 and 2042 FGN bonds. Demand was considerably lower, as the DMO secured a total bid of N142.3bn (USD331.6m). The bids for the […]
Coronation Fixed Income and Exchange Rate (CFEX) Update
July 20, 2022/Coronation Research Summary Opening market liquidity was reported at N39.4bn on Friday (15 July ‘22). Overnight and repo rates closed within a range of 13 – 15%. The average NTB yield increased by +9bps w/w to close at 6.9%. At the latest primary market NTB auction held last […]
