MON APRIL 07 2025-theGBJournal| The FGN bond secondary market were quiet, as the average yield remained unchanged at 18.5% Monday.
Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end, driven by sell pressures on the APR-2029 (+3bps) bond, but closed flat at the mid and long segments.
The overnight lending rate expanded by 9bps to 27.0% in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 4bps to 19.9%.
Across the curve, the average yield declined at the short (-3bps) and mid (-3bps) segments, driven by demand for the 80DTM (-3bps) and 171DTM (-3bps) bills, respectively, but expanded at the long (+11bps) end driven by profit-taking activities on the 318DTM (+155bps) bill. Similarly, the average yield contracted by 5bps to 24.3% in the OMO segment.
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