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Bonds yield settles 18.9% on bullish trade, Treasury Bills yield falls 2bps to 25.1%

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WED APRIL 24 2024-theGBJournal| The Treasury bond secondary market closed on a bullish note Wednesday, as the average yield contracted by 1bp to 18.9%.

Across the benchmark curve, the average yield dipped at the short (-2bps) end driven by interest in the MAR-2027 (-12bps) bond, but was flat at the mid and long segments.

Activities in the Treasury bills secondary market remained bullish, as the average yield declined by 2bps to 25.1%.

Across the curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-2bps) segments due to demand for the 92DTM (-2bps), 155DTM (-2bps) and 337DTM (-2bps) bills, respectively.

Similarly, the average yield pared by 1bp to 18.8% in the OMO segment.

The overnight lending rate expanded by 58bps to 31.3% in the absence of any significant outflows from the system.

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