THUR APRIL 10 2025-theGBJournal| The FGN bond secondary market traded on a bearish note on Wednesday as the average yield expanded by 6bps to 18.6%.
Across the benchmark curve, the average yield expanded at the short (+5bps) and mid (+17bps) segments, driven by sell pressures on the JUL-2030 (+20bps) and JUN-2033 (+53bps) bonds, respectively, but remained unchanged at the long end.
Trading in the Treasury bills secondary market was quiet with a bullish undertone, as the average yield contracted by 1bp to 21.2%.
Across the curve, the average yield declined at the short (-1bp), mid (-1bp) and long (-1bp) segments due to demand for the 92DTM (-1bp), 169DTM (-1bp) and 344DTM (-2bps) bills, respectively. Conversely, the average yield expanded by 4bps to 29.4% in the OMO segment.
Meanwhile, the overnight lending rate expanded by 2bps to 27.0% in the absence of any significant funding pressure on the system.
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