MON 15 MARCH, 2021-theGBJournal-The naira appreciated by 0.3% to NGN408.90/USD at the I&E window but remained flat at NGN485.00/USD in the parallel market.
The overnight lending rate contracted by 142bps to 12.8%, following inflows from the FGN bond coupon payment (NGN50.84 billion).
Activities at the NTB secondary market traded in a lull, as the average yield was flat at 2.8%. At the OMO secondary market, the average yield declined by 15bps to 6.6%.
The Treasury bonds secondary market was bearish, as the average yield in the space expanded by 14bps to 9.3%. Across the benchmark curve, the average yield increased at the short (+34bps) and mid (+11bps) segments due to sell-offs of the JAN-2026 (+103bps) and MAR-2027 (+46bps) bonds, respectively. Conversely, the average yield declined slightly at the long (-1bps) end due to demand for the APR-2049 (-13bps) bond.
Twitter-@theGBJournal|email: info@govandbusinessjournal.ng
