THUR SEPT 12 2024-theGBJournal|The Treasury bond secondary market closed on a bearish note on Thursday, as the average yield expanded by 5bps to 18.5%.
Across the benchmark curve, the average yield expanded at the mid (+18bps) segment due to profit-taking activities on the FEB-2031 (+55bp) bond but was unchanged at the short and long ends.
The Nigerian treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 5bps to 20.0%.
Across the curve, the average yield declined at the short (-1bp), mid (-15bps), and long (-3bps) segments, following demand for the 91DTM (-84bp), 147DTM (-83bp), and 343DTM (-21bps) bills, respectively.
Similarly, the average yield declined by 2bps to 23.6% in the OMO segment.
The overnight lending rate contracted by 11bps to 31.5% in the absence of any significant inflows to the system.
Meanwhile, the local currency, the naira relapsed after Wednesday’s gain, dropping 5.5% to N1,649.76/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
