THUR MAY 23 2024-theGBJournal| The FGN bond secondary market traded quietly, as the average yield was unchanged at 18.6%.
Across the benchmark curve, the average yield expanded at the short (+1bp) end as market participants sold off the MAR-2025 (+2bps) bond but remained unchanged at the mid and long segments.
Sentiments in the NTB secondary market were bullish, as the average yield contracted by 12bps to 22.0%.
Across the curve, the average yield dipped at the short (-43bps), mid (-1bp) and long (-2bps) segments due to buying interest in the 91DTM (-254bps), 182DTM (-1bp) and 336DTM (-2bps) bills, respectively.
Similarly, the average yield declined by 5bps to 20.9% in the OMO segment.
At the money market, the overnight lending rate expanded by 169bps to 32.3%, following the debits for the net NTB issuance (N130.00 billion).
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