THERE are signs that in the coming week, the Open Market Operations (OMO) maturities worth N321.5 billion will hit the system, increase liquidity and help keep rates low.
“We see secondary market rates trending lower in the week ahead. Meanwhile, we expect the CBN to continue its liquidity mop-up via OMO sales,” one dealer said.
In the secondary market last week, there was a bearish performance as average yield rose 46 basis points (bps) when compared week by week (w/w) to 2.2 per cent.
According to dealers, the 91-day instrument enjoyed the most buying interest as yields declined 60bps to 1.0 per cent while yields on the 182- and 364-day instruments advanced 110bps and 88bps to 2.4 per cent and 3.2 per cent, respectively.
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