Home Companies&Markets FGN bonds yield holds at 18.6% as Treasury Bills yield jumps 16bps...

FGN bonds yield holds at 18.6% as Treasury Bills yield jumps 16bps to 22.2%

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…The average yield expanded at the long (+39bps) end due to profit-taking activities on the 295DTM (+77bps) bill

…The overnight lending rate expanded by 36bps to 32.3% in the absence of any significant outflows from the system.

WED JULY 03 2024-theGBJournal| Activities in the FGN bond secondary market remained calm on Wednesday, as the average yield closed flat at 18.6%.

Across the benchmark curve, the average yield increased at the short (+1bp) end, as investors sold off the MAR-2025 (+2bps) bond but was unchanged at the mid and long segments.

The Treasury bills secondary market closed on a bearish note, as the average yield expanded by 16bps to 22.2%.

Across the curve, the average yield pared at the short (-1bp) and mid (-1bp) segments, driven by mild interest in the 85DTM (-1bp) and 176DTM (-1bp) bills, respectively.

Meanwhile, the average yield expanded at the long (+39bps) end due to profit-taking activities on the 295DTM (+77bps) bill. Conversely, the average yield contracted by 2bps to 23.4% in the OMO segment.

Meanwhile, the overnight lending rate expanded by 36bps to 32.3% in the absence of any significant outflows from the system.

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