WED APRIL 17 2024-theGBJournal|The Treasury bond secondary market was mixed today but with a bullish bias as the average yield contracted by 1bp to 19.2%.
Across the benchmark curve, the average yield advanced at the short (+1bp) end due to profit-taking activities on the MAR-2025 (+2bps) bond but contracted at the mid (-4bps) segment following bargain hunting in the JUN-2033 (-14bps) bond.
The average yield was unchanged at the mid segment.
The Nigerian Treasury bills secondary market traded with bearish sentiments, as the average yield expanded significantly by 9bps to 18.9%.
Across the curve, the average yield pared at the short (-1bp) and mid (-1bp) segments following mild interests on the 85DTM (-1bp) and 162DTM (-1bp) bills, respectively but increased at the long (+18bps) end as participants sold off the 344DTM (+235bps) bill.
Similarly, the average expanded by 31bps to 18.5% in the OMO segment.
Meanwhile, the overnight lending rate expanded by 199bps to 33.3%, following debits for the April 2024 FGN bond PMA (N626.81 billion).
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