…In Nigeria’s Eurobonds market, investor sentiment edged up slightly, moving the average yield lower by 2.3bps at 6.98% from 7.01%.
THUR MAY 21 2026-theGBJournal| System liquidity settled at a net negative position of N5.90 trillion on Thursday as primary market repayments mopped up funds.
This led to a surge in the Overnight Rate by 4bps to 22.2%.
Meanwhile, the Nigerian Overnight Financing Rate (NOFR) and the Open Repo Rate remained unchanged at 22.00%.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 3bps to 17.5%.
Across the curve, the average yield contracted at the short (-1bp), mid (-4bps) and long (-3bps) segments due to demand for the 91DTM (-1bp), 168DTM (-15bps) and 308DTM (-31bps) bills, respectively.
Similarly, the average yield contracted by 1bp to 21.1% in the OMO segment.
At this week’s auction, the stop rate for 90-day bills held at 15.95%, while the 180-day and 364-day bills dipped to 16.14% and 16.149%, respectively.
This followed oversubscription, with bid-to-offer ratios of 1.62x for 180-day bills and 3.68x for 364-day bills.
Meanwhile, the FGN bond secondary market traded in a lull with a bearish undertone, as the average yield expanded by 1bp to close at 15.8%.
Across the benchmark curve, the average yield contracted at the mid (-2bps) segment following buying interest in the MAR-2035 (-9bps) bond but expanded on the long (+2bps) end due to the selloff of the APR-2037 (+20bps) bond.
The average yield remained unchanged at the short end.
In Nigeria’s Eurobonds market, investor sentiment edged up slightly, moving the average yield lower by 2.3bps at 6.98% from 7.01%.
Longer-dated bonds were favored in today’s session, reflecting increased interest for duration as global market conditions improved.
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