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Markets Wrap: Average yield at the OMO segment stays flat at 6.5%, Naira at N414.40/$ at the I&E window, Treasury bonds market bearish

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MON 11 OCT, 2021-theGBJournal- Trading in the NTB secondary market was mixed, albeit with bullish bias, as the average yield pared by 2bps to 5.3%. Across the benchmark curve, the average yield was flat at the short and mid segments but contracted at the long (-4bps) end due to demand for the 262DTM (-65bps) bill.

Elsewhere, the average yield at the OMO segment was flat at 6.5%.

The overnight lending rate contracted by 383bps to 10.7%, in the absence of any significant funding pressures on the system.

The Treasury bond secondary market was also mixed, but with bearish bias, as the average yield expanded slightly by 1bp to 11.3%. Across the benchmark curve, the average yield was flat at the short and mid segments but expanded at the long (+3bps) end following sell-off of the APR-2049 (+11bps) bond.

The naira traded flat at NGN414.40/USD at the I&E window.

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