TUE, SEPT 12 2023-theGBJournal |Activities in the NTB secondary market were bearish, as the average yield expanded by 5bps to 8.0%.
Across the curve, the average yield was unchanged at the short end but expanded at the mid (+9bps) and long (+5bps) segments following selloffs of the 163DTM (+35bps) and 317DTM (+68bps) bills, respectively.
Elsewhere, the average yield was flat at 13.3% in the OMO segment.
Similarly, the Treasury bond secondary market was bearish, as the average yield expanded by 14bps to 14.3%.
Across the benchmark curve, the average yield closed flat at the short end but increased at the mid (+12bps) and long (+22bps) segments due to profit-taking activities on the APR-2029 (+28bps) and MAR-2050 (+45bps) bonds, respectively.
At the currency market, the naira appreciated by 4.2% to NGN742.10/USD at the I&E window.
Meanwhile, the overnight lending rate expanded by 197bps to 22.8%, following the settlements for Monday’s FGN bond auction (N251.50 billion).
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