MON OCT 28 2024-theGBJournal| Sentiments in the Treasury bills secondary market were bullish, as the average yield fell by 2bps to 24.2% after moving up by 100bps to 24.16% pa, and with market activity focused particularly on the medium to long – end of the yield spectrum.
Across the curve, the average yield dipped at the short (-4bps) and long (-5bps) ends following demand for the 87DTM (-4bps) and 220DTM (-6bps) bills, respectively, but advanced at the mid (+4bps) segment as investors sold off the 101DTM (+64bps) bill. Meanwhile, the average yield declined by 6bps to 26.1% in the OMO segment.
Elsewhere, the Treasury bond secondary market traded on a calm note, albeit with a bullish tilt as the average yield pared by 1bp to 19.1%.
Across the benchmark curve, the average yield declined at the short (-2bps) and mid (-2bps) segments, driven by participants’ interest in the MAR-2025 (-15bps) and FEB-2031 (-7bps) bonds.
The average yield closed flat at the long end.
Meanwhile, the naira dropped 4.2% to N1,670.65/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM), sustaining its decent.
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