FRI JULY 10 2026-theGBJournal|Liquidity conditions in the financial system tightened slightly on Thursday, pushing the overnight lending rate up by 7 basis points to 22.2% in the absence of any significant inflows into the banking system, while sustained investor demand across fixed-income instruments compressed yields in both the Treasury bills and Federal Government bond secondary markets.
Activities in the Treasury bills secondary market remained bullish, with the average yield contracting by 5 basis points to 18.5%.
Across the curve, the average yield declined at the short (-3bps), mid (-13bps) and long (-2bps) segments, supported by strong demand for the 91-day-to-maturity (-21bps), 182-day-to-maturity (-56bps) and 329-day-to-maturity (-11bps) bills, respectively.
Similarly, the average yield in the Open Market Operations (OMO) segment eased by 1 basis point to 21.6%, reflecting continued buying interest.
The FGN bond secondary market also closed on a bullish note, with the average yield declining by 7 basis points to 17.4%.
Across the benchmark curve, yields contracted at the short (-7bps) and mid (-15bps) segments, driven by renewed demand for the MAR-2027 (-35bps) and MAR-2035 (-31bps) bonds, respectively, while the average yield at the long end remained unchanged.
Elsewhere, the Nigeria Eurobond market saw positive momentum, after a subdued performance in the previous trading session.
Consequently, average yield decreased by 6bps closing at 6.98% from 7.04%.
Nigeria’s Eurobonds continue to mirror global bonds market performance. US. 10Y yields surged 3.8bps as oil prices slumped below $73.
However, market participants continue to trade cautiously while observing the Middle East tensions.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
