MON 02 AUG, 2021-theGBJournal- The naira was flat at NGN411.50/USD at the I&E window but appreciated by 0.6% to NGN512.00/USD in the parallel market.
The overnight lending rate contracted by 200bps to 5.8%, in the absence of significant funding pressures on the system.
The NTB secondary market closed with mixed sentiments, as the average yield pared by 1bp to 5.9%. Across the benchmark curve, average yield contracted at the long (-2bps) end following demand for the 346DTM (-20bps) bill, but stayed flat at the short and mid segments. Similarly, the average yield at the OMO segment contracted by 60bps to 8.1%.
Trading in the Treasury bond secondary market was bullish, as the average yield contracted by 2bps to 12.0%. Across the benchmark curve, average yield contracted at the short (-4bps) and long (-1bp) ends as investors bought the JAN-2026 (-11bps) and MAR-2050 (-13bps) bonds, respectively. The average yield was flat at the mid segment.
Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com
