MON, SEPT 11 2023-theGBJournal |The Nigerian Treasury bills secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 7.9%.
Across the curve, the average yield closed flat at the short end but declined at the mid (-1bp) and long (-1bp) segments, following demand for the 178DTM (-4bps) and 346DTM (-2bps) bills, respectively. Similarly, the average yield pared by 1bp to 13.3% in the OMO segment.
Trading in the FGN bonds secondary market was mixed, as the average yield was unchanged at 14.2%.
Across the benchmark curve, the average yield pared at the short (-1bp) end as investors demanded the MAR-2024 (-3bps) bond.
Meanwhile, the average yield was flat at the mid and long segments.
The overnight lending rate expanded by 208bps to 20.8%, in the absence of any significant funding pressure on the system.
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