WED, DEC 27 2023-theGBJournal| Treasury bills secondary market traded bullish on Wednesday as the average yield contracted by 21bps to 7.9%.
Across the curve, the average yield dipped across the short (-65bps), mid (-1bp) and long (-7bps) segments driven by bargain hunting in the 92DTM (-219bps), 162DTM (-1bp) and 330DTM (-65bps) bills, respectively.
Similarly, the average yield declined by 2bps to 11.4% in the OMO segment.
In the same vein, the FGN bond secondary market traded with bullish sentiments, as the average yield decreased by 14bps to 14.2%.
Across the benchmark curve, the average yield declined at the short (-40bps) and long (-3bps) ends as investors demanded the MAR-2024 (-164bps) and APR-2037 (-15bps) bonds, respectively.
The average yield was unchanged at the mid segment.
Meanwhile, the overnight lending rate expanded by 106bps to 16.4%, in the absence of any significant funding pressure on the system.
The naira appreciated by 1.5% to N872.59/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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