TUE, MAR 12 2024-theGBJournal| The FGN bond secondary market activities were mixed but with a bearish tilt as the average yield remained at 18.0%.
Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end as market players sold off the MAR-2024 (+3bps) bond but closed flat at the mid and long segments.
The NTB secondary market traded with bullish sentiments as the average yield contracted by 3bps to 18.8%.
Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-6bps) segments following buying interest in the 86DTM (-1bp), 177DTM (-1bp), and 254DTM (-84bps) bills, respectively.
Meanwhile, the average yield increased by 2bps to 18.8% in the OMO segment.
The overnight lending rate expanded by 8bps to 31.9%, in the absence of any significant funding pressure on the system.
The naira appreciated by 0.9% to N1,603.38/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
