TUE 15 FEB, 2022-theGBJournal- The overnight lending rate contracted by 133bps to 1.9%, as the inflow from OMO maturities (NGN135.90 billion) boosted system liquidity.
The Treasury Bill secondary market closed with bullish sentiments, as the average yield contracted by 10bps to 4.1%. Across the curve, most of the day’s activity was witnessed at the long (-27bps) end, as market participants demanded the 205DTM (-127bps) instrument. The average yield was flat at the short and mid segments. . Elsewhere, the average yield was unchanged at 5.5% in the OMO segment.
Proceedings in the Treasury bond secondary market was bullish, as the average yield declined by 3bps to 11.4%. Across the benchmark curve, the average yield expanded at the short (+4bps) end following profit-taking on the MAR-2025 (+17bps) bond; but contracted at the mid (-9bps) and long (-3bps) segments following buying interest in the FEB-2028 (-37bps) and MAR-2050 (-11bps) bonds, respectively.
At the currency market, the naira appreciated by 0.2% to NGN416.00/USD at the I&E window.
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