THUR 02 SEPT, 2021-theGBJournal- The overnight lending rate contracted by 17bps to 4.8% in the absence of any significant funding pressures on the system.
Trading in the NTB secondary market ended on a bullish note, as the average yield contracted by 6bps to 4.5%. Across the benchmark curve, the average yield contracted at the short (-4bps) and mid (-17bps) segments due to demand for the 84DTM (-10bps) and 133DTM (-85bps) bills but was flat at the long end. Elsewhere, the average yield at the OMO segment was flat at 6.1%.
The Treasury bond secondary market was also bullish, as the average yield contracted by 3bps to 11.0%. Across the benchmark curve, the average yield contracted at the short (-1bp), mid (-8bps), and long (-1bp) segments due to demand for the JAN-2022 (-3bps), FEB-2028 (-15bps) and MAR-2035 (-35bps) bonds, respectively.
Meanwhile, the naira was flat at NGN411.67/USD at the I&E window but depreciated by 0.4% to NGN530.00/USD in the parallel market.
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