WED 20 OCT, 2021-theGBJournal- The overnight lending rate contracted by 50bps to 15.0% in the absence of any significant funding pressures on the system.
Trading in the NTB secondary market was bullish, as the average yield contracted by 20bps to 5.0%. Across the benchmark curve, the average yield was flat at the short and mid segments but contracted at the long (-44bps) end due to demand for the 232DTM (-130bps) bill. Elsewhere, the average yield at the OMO segment was flat at 6.4%.
The Treasury bond secondary market was mixed with bearish sentiment, as the average yield expanded slightly by 1bp to 11.3%. Across the benchmark curve, the average yield expanded at the short (+3bps) end following sell-off of the MAR-2027 (+23bps) bond but was flat at the mid and long segments.
The naira appreciated by 0.2% to NGN414.07/USD at the I&E window.
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