THUR 13 JAN, 2022-theGBJournal- Trading in the Treasury bond secondary market was bullish, as the average yield declined by 3bps to 11.4%. Across the benchmark curve, the average yield contracted at the short (-1bp), mid (-3bps) and long (-6bps) segments following increased demand for the APR-2023 (-1bp), MAR-2027 (-6bps) and MAR-2035 (-41bps) bonds, respectively.
The NTB secondary market continued trading with mixed sentiments, as the average yield was unchanged at 4.4%. Similarly, the average yield was flat at 5.6% at the OMO segment.
The overnight lending rate contracted by 150bps to 14.3%, in the absence of any significant funding pressures on the system, and the naira depreciated by 0.1% to NGN416.50/USD at the I&E window.
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