THUR SEPT 26 2024-theGBJournal| The Treasury bond secondary market traded on a calm note on Thursday, as the average yield remained unchanged at 18.6%. This is in contrast to the bearish mood witnessed on Wednesday when the average yield rose 3bps to the current level.
Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end following the selloff of the JAN-2026 (+1bp) bond but closed flat at the mid and long segments.
The T-bills secondary market traded with bearish sentiments as the average yield expanded by 11bps to 21.9%.
Across the curve, the average yield expanded at the short (+5bps) and long (+23bps) ends due to selloffs of the 91DTM (+41bps) and 196DTM (+79bps) bills, respectively, but declined slightly at the mid (-1bp) segment following interests in the 182DTM (-1bp) bill. Similarly, the average yield expanded by 3bps to 23.7% in the OMO segment.
The overnight lending rate expanded by 172bps to 22.7% despite inflows from FGN bond coupon payments (N335.78 billion).
Meanwhile, the naira rebounded today by 5.8% to N1,576.10/USD after falling 0.5% to N1,667.42/USD on Wednesday at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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