MON, JULY 10 2023-theGBJournal |The overnight lending rate expanded by 8bps to 1.3%, in the absence of any significant outflow from the system.
The NTB secondary market traded quietly, as the average yield was unchanged at 6.3%.
Trading in the FGN bond secondary market was bullish, as the average yield contracted by 83bps to 12.2%.
Across the benchmark curve, the average yield declined at the short (-747bps) and mid (-570bps) segments following buying interests in the MAR-2025 (-840bps) and APR-2039 (-635bps) bonds, respectively.
Conversely, the average yield expanded at the long (+351bps) end due to sell pressures on the JUN-2053 (+15.44ppts) bond.
The naira appreciated by 4.4% to N744.07/USD at the I&E window. Latest sell rate shows the Naira at an average of N1,020.00/Pound sterling
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