TUE, JULY 04 2023-theGBJournal |The overnight lending rate was unchanged at 1.6%, as system liquidity closed at a net long position (N751.55 billion).
The Treasury bills secondary market traded with mixed sentiments, albeit with a bearish tilt, as the average yield pared by 1bp to 6.3%. Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-2bps) end following demand for the 247DTM (-18bps) bill.
Elsewhere, the Treasury bond secondary market was bullish, as the average yield expanded by 12bps to 13.1%. Across the benchmark curve, the average yield closed flat at the short end but expanded at the mid (+20bps) and long (+16bps) segments due to sell pressures on the APR-2032 (+42bps) and APR-2037 (+44bps) bonds, respectively.
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