TUE, NOV 07 2023-theGBJournal|Activities in the NTB secondary market were quiet, as the average yield closed flat at 14.4%.
Across the curve, the average yield was unchanged at the short and mid segments but inched higher at the long (+1bp) end due to profit-taking on the 352DTM (+16bps) bill. Elsewhere, the average yield pared by 1bp to 15.9% in the OMO segment.
Meanwhile, the Treasury bond secondary market closed on a bearish note, as the average yield expanded by 13bps to 15.8%.
Across the benchmark curve, the average yield expanded at the short (+18bps) and long (+16bps) ends, as investors sold off the MAR-2025 (+76bps) and MAR-2036 (+36bps) bonds, respectively. The average yield was unchanged at the mid-segment.
The naira depreciated by 7.0% to N869.91/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate expanded by 42bps to 17.3%, in the absence of any significant funding pressure on the system.
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