TUE MAR 17 2026-theGBJournal| Yields in the Federal Government of Nigeria (FGN) bond market ticked up by 2 basis points to 15.6%., reflecting mild bearish sentiment as investors adjusted positions ahead of fresh supply expectations.
Across the benchmark curve, the average yield expanded at the short (+4bps) and mid (+1bp) segments, due to sell pressures on the MAR-2027 (+25bps) and JUN-2033 (+2bps) bonds, respectively.
The average yield closed flat at the long end.
The slight uptick suggests cautious trading activity, with market participants demanding higher returns amid lingering inflation concerns and tightening liquidity conditions.
In contrast, the Treasury bills segment closed largely unchanged, as yields held steady at 17.7%.
Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, due to the demand for the 86DTM (-1bp) and 177DTM (-1bp) bills, respectively, but closed flat at the long end.
Meanwhile, the average yield expanded by 1bp to 21.0% in the OMO segment.
Investors appeared to adopt a wait-and-see approach, refraining from aggressive repositioning ahead of the upcoming primary market auction by the Debt Management Office (DMO).
The DMO is scheduled to conduct an NTB primary market auction Wednesday, offering N1.05 trillion across the three maturities: N100.00 billion for the 91-Day tenor, N150.00 billion for the 182-Day tenor, and N800.00 billion for the 364-Day tenor.
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