Home Business Markets wrap| Bonds yield falls 7bps to 17.2% while T-Bills yield pars...

Markets wrap| Bonds yield falls 7bps to 17.2% while T-Bills yield pars by 1bp to 17.2%, Naira tumbles 4.3% to N1,602.43/US$

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TUE, MAR 05 2024-theGBJournal|The Nigerian bonds secondary market traded with bearish sentiments, as the average yield expanded by 7bps to 17.2%.

Across the benchmark curve, the average yield increased at the short (+25bps) end following the sell-off of the MAR-2024 (+147bps) bond but closed flat at the mid and long segments.

The Treasury bills secondary market traded with mixed sentiments but with a bullish bias, as the average yield pared by 1bp to 17.2%.

Across the curve, the average yield was flat at the short end but declined at the mid (-1bp) and long (-1bp) segments as players demanded the 170DTM (-1bp) and 338DTM (-1bp) bills, respectively.

Similarly, the average yield pared by 1bp to 17.9% in the OMO segment.

The overnight lending rate expanded by 155bps to 29.0%, in the absence of any significant funding pressure on the system.

The naira depreciated by 4.3% to NGN1,602.43/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

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