MON, JULY 03 2023-theGBJournal |The overnight lending rate contracted by 43bps to 1.6%, in the absence of any significant inflows into the system.
The NTB secondary market traded on a quiet note as the average yield closed flat at 6.3%.
Activities in the FGN bond secondary market were bullish, as the average yield contracted by 12bps to 13.0%.
Across the benchmark curve, the average yield expanded at the short (+3bps) end as investors sold off the FEB-2028 (+19bps) bond; but contracted at the mid (-8bps) and long (-19bps) segments as investors demanded the APR-2029 (-16bps) and JAN-2042 (-110bps) bonds, respectively.
The naira appreciated by 3.7% to N741.50/USD at the I&E window.
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