MON, OCT 30 2023-theGBJournal| The NTB secondary market traded with bearish sentiments as the average yield expanded by 379bps to 10.9%.
Across the curve, the average yield advanced at the short (+308bps), mid (+311bps) and long (+448bps) segments following sell pressures on the 10DTM (+429bps), 115DTM (+392bps) and 332 DTM (+564bps) bills, respectively.
Conversely, the average yield pared by 1bp to 12.0% in the OMO segment.
Similarly, the Treasury bond secondary market traded with bearish sentiments, as the average yield advanced by 14bps to 15.0%.
Across the benchmark curve, the average yield increased at the short (+49bps) and mid (+9bps) segments following profit-taking activities in the MAR-2024 (+236bps) and APR-2032 (+19bps) bonds, respectively.
Elsewhere, the average yield declined at the long (-1bp) end as investors demanded the JUN-2053 (-10bps) bond.
Meanwhile, the naira depreciated by 20.5% to N993.82/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate expanded by 119bps to 15.9%, as banks placed their excess funds with the CBN.
Thus, the balance at the Standing Deposit Facility (SDF) closed at N888.72 billion.
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