THUR MAY 22 2025-theGBJournal| The Nigerian treasury bills and FGN Bond yields continued their slide on the back of recent trade uncertainties and weakening oil prices.
Analysts believe both factors are prompting the sustained sell-offs by foreign portfolio investors (FPIs) in the market.
The treasury bills average yield fell 7bps to 20.7% on Thursday with average yield across the curve, sliding at the short (-5bps), mid (-17bps) and long (-2bps) segments, driven by demand for 91DTM (-31bps), 182DTM (-126bps) and 287DTM (-10bps) bills, respectively.
Similarly, the average yield contracted by 7bps to 26.5% in the OMO segment.
The FGN bond secondary market traded with bullish sentiments as well as the average yield fell 5bps to 18.7%.
Across the benchmark curve, the average yield contracted at the short (-16bps) and long (-1bp) ends, driven by buying interest in the JAN-2026 (-83bps) and JUN-2038 (-12bps) bonds, respectively.
The average yield remained unchanged at the mid segment.
Meanwhile, the overnight lending rate expanded by 6bps to 27.0% in the absence of any significant funding pressures on the system.
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