WED, 11 MAY, 2022-theGBJournal | The overnight lending rate contracted by 138bps to 6.4% in the absence of any significant funding pressure on the system.
Trading in the Treasury bills secondary market was mixed, albeit with a bullish tilt, as the average yield declined by 2bps to 3.7%. Across the curve, the average yield contracted at the mid (-6bps) segment as market participants demanded the 141DTM (-58bps) bill but closed flat at the short and long ends. Similarly, the average yield declined by 5bps to 4.0% in the OMO segment.
The Treasury bond secondary market closed on a bullish note, as the average yield contracted by 2bps to 11.1%. Across the benchmark curve, the average yield contracted at the short (-1bp) and long (-4bps) ends as investors demanded the MAR-2025 (-5bps) and APR-2037 (-26bps) bonds, respectively, but closed flat at the mid segment.
Meanwhile, the naira depreciated by 0.1% to N418.75/USD at the I&E window.
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