The Money Market
Interest rates remained stable as there were no major credits or withdrawals from the system. Hence, the secured OBB and overnight funds traded at 10.15% and 10.25% respectively. Market liquidity is expected to remain at these levels for the rest of the week
Treasury Bills Market
The bearish trend continued today, and was concentrated on the medium and long tenured bills. This reaction was fuelled by the expectation of higher rates at the Primary Market Auction. Consequently, yields on the medium and long tenured bills increased by an average of 0.30% while the short tenured bills remained relatively stable.
The Bonds Market
The bond market was quite volatile today with much interest on the April 2017 and Jan 2022 bonds. The Jan 2022 closed 10-15kobo up from opening levels, while the April 2017 and June 2019 closed an average of 15kobo down from opening levels.