MON AUG 05 2024-theGBJournal|The FGN bond secondary market traded with bearish sentiments, as the average yield advanced by 14bps to 19.6%.
Across the benchmark curve, the average yield increased at the short (+53bps) end as investors sold off the MAR-2025 (+256bps) bond but closed flat at the mid and long segments.
The NTB secondary market closed on a bearish note, as the average yield expanded by 7bps to 25.6%. Across the curve, the average yield declined at the short (-4bps) and mid (-5bps) segments driven by buying interests in the 80DTM (-4bps) and 171DTM (-5bps) bills, respectively.
Conversely, the average yield expanded at the long (+19bps) end due to profit-taking activities in the 325DTM (+173bps) bill. Similarly, the average yield increased by 49bps to 25.8% in the OMO segment.
Meanwhile, The overnight lending rate contracted by 26bps to 25.8% in the absence of any significant inflows into the system.
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