MON JULY 14 2025-theGBJournal| The FGN bond secondary market traded on a calm note, albeit with a bullish undertone, as the average yield contracted by 1bp to 16.7%.
Across the curve, the average yield contracted at the short (-8bps) end, driven by the demand for the JAN-2026 (-65bps) bond, but expanded at the mid (+5bps) segment, due to sell pressures on the FEB-2031 (+27bps) bond.
The average yield remained unchanged at the long end.
Proceedings in the Treasury bill secondary market were bearish, as the average yield pared by 1bp to 18.4%.
Across the curve, the average yield contracted at the short (-2bps) and mid (-14bps) segments, driven by the demand for the 73DTM (-3bps) and 178DTM (-64bps) bills, respectively, but expanded at the long (+12bps) end, due to sell pressures on the 297DTM (+76bps) bill.
Conversely, the average yield contracted by 5bps to 24.6% in the OMO segment.
The overnight lending rate expanded by 50bps to 32.8%, in the absence of any significant funding pressure on the system.
Meanwhile, at the official FX market, the Naira clawed back 0.2% to N1,528.00/US$1 after closing last week 0.2% w/w down on demand pressures.
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