WED SEPT 18 2024-theGBJournal| The Treasury bond secondary market traded with mixed sentiments Wednesday, albeit with a bullish tilt, as the average yield dipped slightly by 1bp to 18.5%. Across the benchmark curve, the average yield closed flat at the short and mid segments, but declined at the long (-2bps) end due to demand for the JUN-2053 (-20bps) bond.
Trading in the Treasury bills secondary market was bearish, as the average yield expanded by 9bps to 20.5%. Across the curve, the average yield pared at the short (-1bp) end due to demand for the 85DTM (-1bp) bill, but increased at the mid (+25bps) and long (+5bps) segments due to selloffs of the 127DTM (+134bps) and 190DTM (+74bps) bills, respectively. Similarly, the average yield expanded by 7bps to 23.7% in the OMO segment.
The overnight lending rate expanded by 56bps to 31.6% despite inflows from FGN bond coupon (N57.73 billion).
At the currency market, the naira appreciated by 7.6% to NGN1,539.65/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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