MON JUNE 30 2025-theGBJournal| The Treasury bill secondary market were bullish on Monday, as the average yield fell by 3bps to 20.2%.
The decline today reflects T-Bills average yields decline of 29bps to 20.23% pa by close of trade on Friday last week.
The decline was supported by sustained demand at both ends of the curve, with short and long tenor yields falling by 8bps and 48bps to 17.88% pa and 21.63% pa, respectively.
However, some profit-taking at the mid-point caused yields in that segment to rise by
36bps to 20.12% pa.
Meanwhile, across the curve today, the average yield contracted at the short (-2bps), mid (-4bps) and long (-2bps) segments, driven by the demand for the 80DTM (-3bps), 143DTM (-10bps) and 339DTM (-22bps) bills, respectively. Similarly, the average yield contracted by 6bps to 26.4% in the OMO segment.
At the FGN bond secondary market, trading were quiet as the average yield remained unchanged at 18.1%, where it closed last week.
Last week, average yields declined by 19bps to 18.38% pa. The rally was broad-based, as yields dropped across all tenors.
Although, mid-week, the bond market experienced a bit of bearishness resulting from illiquidity, until Friday when liquidity improved.
Short-dated bonds fell the most, down 23bps to 18.96% pa., while medium and long-term maturities dipped by 15bps and 17bps to settle at 18.43% pa, and 17.12% pa,, separately.
The uniform decline in yields highlights strong investor appetite across the curve,
particularly at the short and long ends.
In the Eurobond space, yield declined by 36bps to 8.61% reflecting buying interest across the curve.
The uniform decline in yields highlights strong investor appetite across the curve,
particularly at the short and long ends. In the Eurobond space, yield declined by 36bps to 8.61% reflecting buying interest across the curve.
At today trading session, across the benchmark curve, the average yield rose at the short (+2bps) and mid (+3bps) segments due to the sell-off on the JUL-2030 (+10bps) and FEB-2031 (+14bps) bonds, respectively, but contracted at the long (-4bps) end following the demand for the.JUL-2045 (-25bps) bond.
The overnight lending rate expanded by 17bps to 27.2% in the absence of any significant funding pressures on the system.
The overnight lending rate expanded by 17bps to 27.2% in the absence of any significant funding pressures on the system.
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