THUR, JAN 18 2024-theGBJournal|The NTB secondary market and the FGN bonds secondary markets traded with bearish sentiments on Thursday.
The NTB average yield, at the end of the day’s session expanded by 2bps to 3.0%.
Across the curve, the average yield expanded at the short (+7bps) end due to profit-taking on the 56DTM (+50bps) bill but closed flat at the mid and long segments. Elsewhere, the average yield was flat at 8.4% in the OMO segment.
Similarly, proceedings in the FGN bonds secondary market were bearish, as the average yield expanded by 3bps to 13.5%. Across the benchmark curve, the average yield closed flat at the short end but increased at the mid (+3bps) and long (+6bps) segments following the sell-off of the JUN-2033 (+8bps) and JUN-2034 (+16bps) bonds, respectively.
Meanwhile, the overnight lending rate expanded by 83bps to 20.3%, in the absence of any significant outflows from the system.
At the currency market, the naira appreciated by 3.2% to N902.08/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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