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Markets Brief: Naira closes at N522.00/$ at parallel market, T-Bills yield closed flat at 5.0%, Treasury bond expands by 6bps to 11.1%

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THUR 26 AUG, 2021-theGBJournal- The naira appreciated by 0.3% to NGN410.88/USD at the I&E window but depreciated by 0.2% to NGN522.00/USD at the parallel market.

The overnight lending rate contracted by 333bps to 10.0%, despite funding pressures from net NTB issuances (NGN150.13 billion).

The NTB secondary market closed was flat, as the average yield remains unchanged at 5.0%. Elsewhere, the average yield at the OMO segment expanded by 5bps to 6.0%.

Trading in the Treasury bond secondary market was bearish, as the average yield expanded by 6bps to 11.1%. Across the benchmark curve, average yield expanded at the short (+4bps), mid (+5bps) and long (+7bps) segments as investors sold off the JAN-2026 (+19bps), FEB-2028 (+9bps) and MAR-2035 (+20bps) bonds, respectively.

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