Monthly Fixed Income Market Report
The FGN bond market closed the month negative as average yield surged 96bps MoM to settle at 14.06%. Similarly, the Nigerian Treasury Bills Market closed the month bearish, as average yield went up by 15bps MoM to close at 7.27%. Overall, the secondary Fixed Income market closed on a negative note as average yield increased by 55bps to 10.67%. This was amid predominantly tighter liquidity system in the month of August. Furthermore, we witnessed repricing of fixed income instruments as the CBN offered attractive OMO rates at the first primary OMO auction of the year.
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