MON MAY 06 2024-theGBJournal| The FGN bonds secondary market were quiet Monday, as the average yield closed flat at 18.8%.
Across the benchmark curve, the average yield increased at the short (+2bps) end due to sell pressures on the MAR-2025 (+4bps) bond but was unchanged at the mid and long segments.
The NTB secondary market traded with bearish sentiments, as the average yield advanced by 25bps to 22.5%.
Across the curve, the average yield expanded at the short (+118bps) end as investors sold off the 17DTM (+610bps) bill but contracted at the mid (-3bps) and long (-2bps) segments following interests in the 171DTM (-3bps) and 325DTM (-6bps) bills, respectively.
Elsewhere, the average yield declined by 3bps to 18.7% in the OMO segment.
Meanwhile, the overnight lending rate expanded by 139bps to 28.5% in the absence of any significant funding pressure on the system.
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