THUR JULY 11 2024-theGBJournal| Treasury yield had a contrasting day Thursday as the FGN Bonds yield rose by 5bps to 18.9% on Thursday, continuing the trend seen yesterday while treasury bills yield fell 16bps to 23.3% Across the curve.
Across the FGN bond benchmark curve, the average yield expanded at the short (+17bps) end, driven by sell-offs on the JAN-2026 (+86bps) bond; but closed flat at the mid and long segments.
In contrast, the NTB secondary market traded with bullish sentiments, as the average yield declined at the short (-59bps), mid (-1bp) and long (-2bps) segments due to demand for the 63DTM (-346bps), 147DTM (-2bps) and 350DTM (-2bps) bills, respectively.
Similarly, the average yield dipped by 2bps to 24.3% in the OMO segment.
Meanwhile, the overnight lending rate contracted by 16bps to 32.6% despite the net NTB Issuance (NGN41.16 billion) at yesterday’s NTB auction.
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