TUE APRIL 30 2024-theGBJournal| Sentiments in the NTB secondary market turned bearish, as the average yield advanced by 3bps to 22.2%.
Across the curve, the average yield pared at the short (-1bp) end driven by demand for the 72DTM (-2bps) bill but expanded at the mid (+13bps) and long (+1bp) segments following sell-offs of the 114DTM (+84bps) and 191DTM (+18bps) bills, respectively.
Conversely, the average yield contracted by 1bp to 18.8% in the OMO segment.
Proceedings in the FGN bond secondary market was calm, as the average yield was unchanged at 18.9%.
Across the benchmark curve, the average yield increased slightly at the short (+1bp) end due to mild pressure on the JAN-2026 (+1bp) bond but closed flat at the mid and long segments.
Meanwhile, the overnight lending rate expanded by 33bps to 31.0%, despite the inflows from OMO maturities (N42.00 billion).
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