MON 18 OCT, 2021-theGBJournal- The overnight lending rate contracted by 450bps to 15.5% in the absence of any significant funding pressures on the system.
Trading at the NTB secondary market was quiet, as the average yield stayed flat at 5.2%. Elsewhere, the average yield at the OMO segment contracted by 8bps to 6.4%.
The Treasury bond secondary market was bullish, as the average yield contracted by 3bps to 11.2%. Across the benchmark curve, the average yield contracted at the short (-1bps), mid (-5bps), and long (-4bps) segments following investor’s demand for the APR-2023 (-3bps), MAR-2027 (-29bps), and APR-2049 (-33bps) bonds respectively.
The naira appreciated by 0.1% to NGN414.73/USD at the I&E window.
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