WED 06 OCT, 2021-theGBJournal- The Treasury bond secondary market was also mixed with a bearish tilt, as the average yield expanded by 4bps to 11.1%.
Across the benchmark curve, the average yield expanded at the short (+14bps) end following sell-off of the APR-2023 (+41bps) bond. Conversely, the average yield contracted at the long end (-3bps) following demand for the MAR-2036 (-11bps) bond; the mid segment was flat.
Trading in the NTB secondary market was mixed, albeit with bullish bias, as the average yield contracted by 3bps to 5.1%. Across the benchmark curve, the average yield was flat at the short and mid segments but contracted at the long (-6bps) end due to demand for the 309DTM (-33bps) bill. Elsewhere, the average yield at the OMO segment advanced by 7bps to 6.4%.
At the money market, the overnight lending rate expanded by 92bps to 7.8%, in the absence of any significant inflows in the system, while The naira depreciated by 0.1% to NGN414.73/USD at the I&E window.
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