TUE JAN 14 2025-theGBJournal| The Treasury bills secondary market were bullish on Tuesday as the average yield declined by 22bps to 25.0%.
Across the curve, the average yield declined at the short (-31bps), mid (-2bps), and long (-28bps) segments, driven by demand for the 51DTM (-123bps), 177DTM (-2bps), and 240DTM (-241bps) bills, respectively. Conversely, the average yield expanded by 22bps to 28.0% in the OMO segment.
The FGN bond secondary market was quiet as the average yield was unchanged at 19.5%. Across the benchmark curve, the average yield increased at the short (+1bp) end, driven by sell pressures on the JAN-2026 (+2bps) bond, but closed flat at the mid and long segments.
The overnight lending rate contracted by 33bps to 32.3% following inflows from OMO maturities (N252.50 billion).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
