TUE, 24 MAY, 2022-theGBJournal| Activities in the NTB secondary market were bearish as the average yield expanded by 3bps to 3.7%. Across the curve, the average yield contracted at the short end (+3bps) following demand for the 93DTM (-15bps) bill; but expanded at the long (+9bps) end as participants sold off the 184DTM (+62bps) bill.
Conversely, the average yield was flat at the mid-segment. Elsewhere, the average yield expanded by 10bps to 4.1% in the OMO segment.
The Treasury bonds secondary market traded with bullish sentiments as the average yield contracted by 2bps to 11.0%. Across the benchmark curve, the average yield expanded at the short (+3bps) end as investors took profits off the APR-2023 (+9bps) bond; but contracted at the mid (-10bps) segment following demand for the APR-2029 (-17bps) bond.
The average yield was flat at the long end.
The overnight lending rate remained flat at 12.5%, despite the inflow from OMO maturities (NGN30.00 billion).
The naira appreciated by 0.3% to NGN419.00/USD at the I&E window.
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