SAT DEC 28 2024-theGBJournal| The FGN bond secondary market remained calm with a bearish undertone as the average yield rose 1bp to 19.4% on Friday.
Across the benchmark curve, the average yield expanded at the short (+2bps) end following profit-taking activities on the JAN-2026 (+6bps) bond but remained unchanged at the mid and long segments.
Similarly, the Treasury bills secondary market closed on a bullish note, as the average yield declined by 8bps to 25.5%.
The average yield declined, across the curve, at the short (-5bps), mid (-5bps) and long (-10bps) segments, driven by interest in the 90DTM (-6bps), 104DTM (-6bps) and 209DTM (-58bps) bills, respectively. Similarly, the average yield contracted by 6bps to 27.1% in the OMO segment.
Meanwhile, the Naira closed buoyant at the end of a holiday-thinned trading week on against the dollar.
The currency closed 0.4% stronger on Friday to N1,534.00/USD at the Nigerian Foreign Exchange Market (NFEM), sustaining the week-long stellar performance.`
The overnight lending rate contracted by 48bps to 27.1% in the absence of any significant inflows into the system.
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