MON APRIL 08 2024-theGBJournal| Trading in the NTB secondary market was mixed today, albeit with a bullish tilt, as the average yield pared by 1bp to 18.9%.
Across the curve, the average yield contracted at the short (-2bps) and mid (-3bps) segment following buying interests in the 80DTM (-2bps) and 171DTM (-3bps) bills, respectively but closed flat at the long end. Elsewhere, the average yield declined by 16bps to 18.2% in the OMO segment.
Similarly, proceedings in the Treasury bond secondary market were bullish, as the average yield declined by 2bps to 19.2%.
Across the benchmark curve, the average yield pared at short (-1bp) and long (-10bps) end as investors demanded the FEB-2028 (-47bps) and FEB-2031 (-17bps) bonds, respectively. Meanwhile, the average yield closed flat at the long end.
The naira depreciated by 1.7% to NGN1,230.61/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate expanded by 331bps to 26.3%, in the absence of any significant outflow from the system.
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