WED MAY 29 2024-theGBJournal|The Treasury bond secondary market closed on a bullish note as the average yield declined slightly by 1bp to 18.5% on Wednesday.
Across the benchmark curve, the average yield advanced at the short (+1bp) end as participants took profits off the MAR-2025 (+2bps) bond but dipped at the mid (-4bps) segment driven by demand for the FEB-2031 (+10bps) bond. Meanwhile, the average yield closed flat at the long end.
Trading in the NTB secondary market was bearish, as the average yield expanded by 8bps to 21.8%. Across the curve, the average yield pared at the short (-1bp) end following buying interest in the 8DTM (-2bps) bills but expanded at the mid (+30bps) segment due to sell pressures on the 148DTM (+150bps) bill. Elsewhere, the average yield was unchanged at the long end. Conversely, the average yield dipped by 1bp to 21.5% in the OMO segment.
The overnight lending rate contracted by 8bps to 32.0%, in the absence of any significant inflows into the system.
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