THUR 21 OCT, 2021-theGBJournal- The overnight lending rate expanded by 50bps to 15.5% in the absence of significant inflows into the system.
The NTB secondary market closed on a bearish note, as the average yield expanded by 37bps to 5.4%. Across the benchmark curve, average yield was unchanged at the short end but closed higher at the mid (+58bps) and long (+39bps) segments as market participants sold off the 161DTM (+96bps) and 189DTM (+132bps) bills, respectively. Similarly, the average yield at the OMO segment expanded by 15bps to 6.5%.
Trading in the Treasury bond secondary market was also bearish, as the average yield expanded by 4bps to 11.3%. Across the benchmark curve, average yield expanded at the short (+10bps) and mid (+5bps) segments driven by sell pressures on the JAN-2022 (+18bps) and MAR-2037 (+21bps) bonds, respectively. However, it pared at the long (-1bp) end following investors’ demand for the MAR-2050 (-4bps) bond.
The naira depreciated by 0.2% to NGN415.07/USD at the I&E window.
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