MON 26 JULY, 2021-theGBJournal- The naira was flat at NGN411.50/USD at the I&E window but appreciated by 0.2% to NGN503.00/USD in the parallel market.
The overnight lending rate contracted by 13.00 ppts to 15.8% 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 17bps to 6.7%. Across the benchmark curve, the average yield was flat at the short and mid segments but contracted at the long (-32bps) end due to demand for the 213DTM (-65bps) bill. Elsewhere, the average yield at the OMO segment expanded by 4bps to 8.6%.
The Treasury bond secondary market was mixed with a bearish tilt, as the average yield expanded by 7bps to 12.1%. Across the benchmark curve, the average yield expanded at the short (+26bps) end due to a sell-off of the JAN-2022 (+133bps) bond but contracted at the long (-2bps) end following the demand the MAR-2036 (-13bps) bonds; the average yield was flat at the mid-segment.
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