SAT FEB 22 2025-theGBJournal| A total of 231,313 units valued at N253.012 million were traded this week in 29 deals compared with a total of 77,290 units valued at N70.809 million transacted last week in 47 deals,
And as investors reacted to January’s lower inflation reading, the average yield fell by 78bps to 19.4%.
Across the benchmark curve, the average yield decreased at the short (-59bps), mid (-90bps), and long (-47bps) segments, driven by demand for the MAR-2027 (-165bps), FEB-2031 (-208bps), and JUN-2038 (-90bps) bonds, respectively.
Players expects the direction of yields in the secondary market to be shaped by the outcome of this month’s FGN bond auction holding on Monday (24 February).
At the auction, the Debt Management Office (DMO) is set to offer instruments worth N350.00 billion through re-openings of the APR-2029 and FEB-2031 bonds.
Meanwhile, the overnight (OVN) rate expanded marginally by 3bps w/w to 32.8% amid inflows from FGN bond coupon payments (N904.93 billion) and OMO maturities (N10.00 billion).
Nonetheless, the average system liquidity remained unchanged, settling at a net short position of N1.08 trillion in this week and the previous week.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
