The Debt Management Office (DMO) saw a robust demand at its June bond auction, drawing ₦602.9 billion in bids for a ₦100 billion offering, signalling growing confidence that easing inflation and dovish monetary policy lie ahead.
The auction, held on Monday, featured two maturities—April 2029 and June 2032—each with a ₦50 billion supply. The bid-to-offer ratio surged to six times, up from under 1.5 times in May, when bids totalled ₦436.3 billion for a ₦300 billion placement.
Buoyed by strong investor interest, the DMO cut its stop rates to 17.75% for the 2029 bond and 17.95% for 2032, both declines from the previous auction.
