Markets Wrap| FGN Bonds, T-Bills yield rise 34bps and 128bps respectively, Naira falls 1.8% against the dollar

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    …The overnight lending rate expanded by 108bps to 26.5%, following the debits for the net NTB issuance (N1.31 trillion).

    THUR, FEB 22 2024-theGBJournal| The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 128bps to 16.7%.

    Across the curve, the average yield increased at the short (+113bps), mid (+169bps) and long (+116bps) segments due to sell pressures on the 63DTM (+258bps), 126DTM (+305bps) and 196DTM (+184bps) bills, respectively. Elsewhere, the average yield was pared by 1bp to 17.8% in the OMO segment.

    Similarly, the Treasury bond secondary market closed on a bearish note, as the average yield advanced by 34bps to 16.7%.

    Across the benchmark curve, the average yield expanded at the short (+81bps), mid (+52bps) and long (+1bp) segments as market participants sold off the MAR-2025 (+392bps), APR-2032 (+265bps) and MAR-2035 (+251bps) bonds, respectively.

    The naira depreciated by 1.8% to N1,571.31/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

    The overnight lending rate expanded by 108bps to 26.5%, following the debits for the net NTB issuance (N1.31 trillion).

    X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com

    Access Pensions, Future Shaping
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