MON, 30 MAY, 2022-theGBJournal| The Treasury bills secondary market was quiet as the average yield remained at 3.7%.
Across the curve, the average yield inched higher at the short (+1bp) end, as market participants sold off the 31DTM (+7bps) bill; but was flat at the mid and long segments. Similarly, the average yield was unchanged at 4.4% in the OMO segment.
Activities in the Treasury bond secondary market were mixed, albeit with a bullish tilt, as the average yield pared by 1bp to 11.1%.
Across the benchmark curve, the average yield contracted at the mid (-2bps) and long (-2bps) segments as investors demanded the APR-2022 (-6bps) and JUL- 2034 (-15bps) bonds; but expanded at the short (+2bps) end following profit-taking on the MAR-2025 (+11bps) bond.
The overnight lending rate contracted by 33bps to 13.7%, following inflows from FGN Bond coupon Payment (NGN5.63 billion).
Meanwhile, the naira depreciated by 0.2% to NGN420.25/USD at the I&E window.
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