MON AUG 18 2025-theGBJournal| The Fixed income market held steady Monday with slight gains closing 4.55% to N42.15 trillion.
The FGN bond secondary market was bullish Monday, as the average yield contracted by 2bps to 16.4%.
Across the benchmark curve, the average yield contracted at the short (-3bps) and mid (-4bps) segments, driven by the demand for the JUL-2030 (-13bps) and APR-2032 (-19bps) bonds, respectively.
The average yield remained unchanged at the long end.
The NTB secondary market traded on a bearish note, as the average yield expanded by 2bps to 17.4%.
Across the curve, the average yield contracted at the short (-2bps) and mid (-3bps) segments, driven by the demand for the 66DTM (-3bps) and 171DTM (-3bps) bills, respectively but expanded at the long (+7bps) end driven by the selloffs in the 290DTM (+47bps) bill.
Similarly, the average yield expanded by 21bps to 24.8% in the OMO segment.
Meanwhile, the overnight lending rate expanded by 30bps to 32.7%, in the absence of any significant funding pressure on the system.
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