WED DEC 25 2024-theGBJournal| Activities in the Treasury bond secondary market was quiet on Tuesday, as the average yield remained unchanged at 19.3%.
Across the benchmark curve, the average yield expanded at the short (+1bp) end following profit-taking activities on the JAN-2026 (-2bps) bond but contracted at the mid (-1bp) segment due to the demand for the JAN-2031 (-2bps) bond and closed flat at the long end.
The Nigerian treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 8bps to 25.6%. Across the curve, the average yield declined at the short (-2bps), mid (-27bps) and long (-2bps) segments, driven by demand for the 79DTM (-2bps), 149DTM (-151bps) and 331DTM (-2bps) bills, respectively. Similarly, the average yield declined by 5bps to 27.2% in the OMO segment.
The overnight lending rate contracted by 13bps to 27.6% in the absence of any significant inflows into the system.
The NFEM (Nigerian Foreign Exchange Market) rate appreciated by 0.4% to N1,540.33/USD.
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