THUR APRIL 25 2024-theGBJournal| The Treasury bills secondary market sustained its bullish momentum, as the average yield fell by 260bps to 22.5%.
Across the curve, the average yield declined at the short (-100bps), mid (-524bps) and long (-202bps) segments driven by bargain hunting for the 91DTM (-591bps), 105DTM (-573bps) and 196DTM (-432bps) bills, respectively.
Also, the average yield contracted by 1bp to 18.8% in the OMO segment.
Sentiments in the FGN bond secondary market were bullish, as the average yield pared by 1bp to 18.9%.
Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end following mild sell-offs on the JAN-2026 (+1bp) bond but declined at the mid (+6bps) segment as players demanded the JUN-2033 (-24bps) bond.
Elsewhere, the average yield was unchanged at the long end.
The overnight lending rate contracted by 298bps to 28.4% following the FAAC disbursement (N777.11 billion) for March.
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