THUR 18 NOV, 2021-theGBJournal- Trading in the Treasury bills secondary market was bullish as the average yield contracted by 3bps to 5.2%. Across the benchmark curve, the average yield was unchanged at the short and mid segments but contracted at the long (-5bps) end following market participants’ demand for the 282DTM (-53bps) bill.
Elsewhere, the average yield at the OMO segment declined by 4bps to 5.5%.
The Treasury bond secondary market traded with mixed sentiments, albeit with a bearish bias, as the average yield expanded slightly by 2bps to 11.2%.
Across the benchmark curve, average yield contracted at the short (-1bp) end due to investors’ demand for the APR-2023 (-3bps) bond but expanded at the mid (+4bps) and long (+3bps) segments as investors sold off the JUL-2030 (+12bps) and JUL-2034 (+9bps) bonds, respectively.
The overnight lending rate expanded by 25bps to 14.0%, following significant funding pressures that outweighed inflows from OMO maturities (NGN70.50 billion).
At the currency market, the naira was flat at NGN415.10/USD at the I&E window.
Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com
