Home Money Markets Watch| Bond yield expands by 2bps to 13.6% on bearish sentiments,...

Markets Watch| Bond yield expands by 2bps to 13.6% on bearish sentiments, T-Bills pars by 1bp to 7.3%, Naira trades at N441.17/$ at I&E Window

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TUE, 11 OCT, 2022-theGBJournal| Activities in the Treasury bills secondary market were mixed, albeit with a bullish tilt, as the average yield pared by 1bp to 7.3%. Across the curve, the average yield was flat at the short end but contracted at the mid (-1bp) and long (-1bp) segments following mild interests in the 170DTM (-1bp) and 338DTM (-1bp) bills, respectively. Similarly, the average yield contracted slightly by 1bp to 10.3% in the OMO segment.

Trading in the FGN bond secondary market was bearish, as the average yield expanded by 2bps to 13.6%. Across the benchmark curve, the average yield was flat at the short end but expanded at the mid (+5bps) and long (+3bps) segments due to selloffs of the APR-2032 (+10bps) and JUL-2034 (+18bps) bonds, respectively.

The overnight lending rate contracted by 50bps to 16.8%, following the inflow from OMO maturities (NGN10.00 billion).

The naira depreciated by 0.5% to NGN441.17/USD at the I&E window.

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