MON, 04 JULY, 2022-theGBJournal| Activities in the Treasury bond secondary market were bearish, as the average yield inched higher by 4bps to 11.1%. Across the benchmark curve, the average yield expanded at the short (+10bps), mid (+3bps), and long (+1bp) segments as investors sold off the APR-2023 (+53bps), FEB-2028 (+6bps), and JUL-2034 (+3bps) bonds, respectively.
The NTB secondary market traded with bearish sentiments, as the average yield expanded by 42bps to 5.7%. Across the curve, the average yield expanded at the short (+82bps), mid (+22bps), and long (+8bps) segments due to profit-taking on the 66DTM (+277bps), 143DTM (+64bps), and 339DTM (+73bps) bills, respectively. Similarly, the average yield expanded by 34bps to 5.6% in the OMO segment.
The overnight lending rate remained at 14.0%, in the absence of any significant funding pressure on the system and the naira depreciated by 0.2% to NGN425.75/USD at the I&E window.
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