THUR APRIL 18 2024-theGBJournal|The Treasury bond secondary market was mixed Thursday but with a bearish bias, as the average yield increased slightly by 1bp to 19.2%.
Across the benchmark curve, the average yield expanded at the short (+1bp) and mid (+3bps) segments due to profit-taking activities on the MAR-2027 (+1bp) and JUN-2033 (+10bps) bonds, respectively. Meanwhile, the average yield closed flat at the long end.
At the The NTB market, trade was underlined by bearish sentiments as the average yield expanded by 45bps to 19.3%.
Across the curve, the average yield pared at the short (-1bp) and mid (-1bp) segments due to mild interest on the 84DTM (-1bp) and 161DTM (-1bp) bills, respectively, but expanded at the long (+91bps) end as participants sold off the 322DTM (+305bps) bill.
Elsewhere, the average contracted by 1bp to 18.5% in the OMO segment.
Meanwhile, the overnight lending rate contracted by 204bps to 31.3% following the inflow from FGN bond coupon payment (N145.98 billion).
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