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Markets Wrap: Overnight rate closes at 17.8% on funding pressures, Naira flat at N415.07/$, bonds yield unchanged at 11.3%

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TUE 30 NOV, 2021-theGBJournal- The overnight lending rate expanded by 250bps to 17.8% following funding pressures that outweighed inflows from OMO maturities (NGN54.30 billion).

Trading in the NTB market was bullish, as the average yield contracted by 6bps to 4.8%. Across the benchmark curve, the average yield was unchanged at the short and mid segments but declined at the long (-13bps) end following demand for the 317DTM (-114bps) bill. Elsewhere, the average yield at the OMO segment remained flat at 5.5%.

The Treasury bond secondary market traded quietly as the average yield was unchanged at 11.3%.

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