MON JUNE 24 2024-theGBJournal| The FGN bond secondary market were mixed Monday but with a bearish bias, as the average yield expanded by 1bp to 18.7%.
Across the benchmark curve, the average yield inched higher at the short end (+2bps), driven by sell pressures on the MAR-2025 (+7bps) bond but was unchanged at the mid and long segments.
Activities in the Treasury bills secondary market were bullish as the average yield contracted by 4bps to 21.9%.
Across the curve, the average yield pared at the short (-3bps), mid (-3bps) and long (-5bps) segments following interests in the 80DTM (-3bps), 171DTM (-4bps) and 332DTM (-5bps) bills.
Meanwhile, the average yield expanded by 57bps to 22.3% in the OMO segment.
The overnight lending rate declined by 201bps to 24.0% in the absence of any significant inflows into the system.
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