THUR JAN 09 2025-theGBJournal| Federal Government bonds ticked up on Thursday and the Naira held steady against the U.S dollar as treasury bills yield rose alongside FGN Bonds
The FGN bond secondary market was bearish as the average yield increased by 4bps to 19.4%.
Across the benchmark curve, the average yield declined at the short (-1bp) end driven by demand for the JAN-2026 (-5bps) bond, but expanded at the mid (+10bps) and long (+3bps) segments following selloffs of the APR-2032 (+37bps) and MAR-2036 (+27bps) bonds, respectively.
Proceedings in the Treasury bills secondary market were bearish as the average yield expanded by 4bps to 25.4%.
Across the curve, the average yield declined at the short (-2bps) and long (-2bps) ends, driven by demand for the 91DTM (-2bps) and 315DTM (-2bps) bills, respectively, while it expanded at the mid (+23bps) segment following sell pressures on the 147DTM(+121bps) bill.
The average yield pared by 1bp to 27.9% in the OMO segment.
The overnight lending rate expanded by 325bps to 30.6% in the absence of any significant funding pressure on the system.
The naira held its nerves against the dollar that is under pressure from selloff in global bonds.
The currency finished the days trading against the US dollar.
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