MON MAY 27 2024-theGBJournal| Activities in the Treasury bond secondary market were bearish, as the average yield expanded by 2bps to 18.5%.
Across the benchmark curve, the average yield inched higher at the short (+2bps) and mid (+5bps) segments, driven by sell pressures on the MAR-2025 (+5bps) and JUN-2033 (+19bps) bonds, respectively.
Meanwhile, the average yield was flat at the long end.
Trading in the Treasury bills secondary market was bullish, as the average yield dipped by 21bps to 21.8%. Across the curve, the average yield declined at the short (-69bps), mid (-3bps) and long (-5bps) segments following demand for the 45DTM (-506bps), 178DTM (-4bps) and 332DTM (-5bps) bills, respectively. Likewise, the average yield contracted by 4bps to 20.8% in the OMO segment.
The overnight lending rate contracted by 156bps to 31.4%, in the absence of any significant inflows into the system.
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