MON, MAR 18 2024-theGBJournal| The FGN bond secondary market traded with bearish sentiments Monday as the average yield expanded by 9bps to 18.4%.
Across the benchmark curve, the average yield advanced at the short (+2bps) and long (+16bps) ends as players sold off the MAR-2025 (+5bps) and JUN-2038 (+91bps) bonds, respectively.
Meanwhile, the average yield was unchanged at the mid segment.
Sentiments in the NTB secondary market were bullish, as the average yield declined by 21bps to 18.5%.
Across the curve, the average yield contracted at the short (-2bps), mid (-24bps) and long (-29bps) segments as investors sought bargains in the 80DTM (-3bps), 178DTM (-147bps) and 339DTM (-244bps) bills, respectively.
Similarly, the average yield dipped by 4bps to 18.8% in the OMO segment.
Meanwhile, the overnight lending rate contracted by 63bps to 30.5%, following the inflows from FGN bond coupon payments (N134.66 billion).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
