WED 03 FEB, 2021-theGBJournal- The Treasury bonds secondary market also closed on a bullish note, as average yield declined by 7bps to 7.9%. Across the curve, average yield contracted at the short (-9bps), mid (-9bps) and long (-4bps) segments, due to demand for the JAN-2022 (-53bps), APR-2029 (-16bps) and MAR-2050 (-22bps) bonds, respectively.
Trading in the NTB secondary market was bullish, as average yield declined by 21bps to 1.0%. Across the curve, average yield was flat at the short and mid segments but contracted at the long (-48bps) end following buying interest in the 344DTM (-58bps) instrument. Conversely, average yield expanded by 4bps to 1.9% at the OMO segment.
Meanwhile, the overnight lending rate expanded by 183bps to 11.5%, in the absence of any significant inflows to the system.
The naira weakened further against the dollar at the I&E window by 0.1% to NGN395.50/USD but stayed flat at the parallel market at NGN480.00/USD.
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