WED OCT 30 2024-theGBJournal| The T-bills secondary market traded calmly Wednesday but with a bullish undertone, as the average yield pared by 1bp to 24.1%.
Across the curve, the average yield contracted at the short (-1bp), mid (-2bps), and long (-1bp) segments following buying interests in the 85DTM (-1bp), 176DTM (-2bps), and 330DTM (-2bps) bills, respectively.
Similarly, the average yield declined by 2bps to 26.0% in the OMO segment.
Meanwhile, the Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 8bps to 19.1%.
Across the benchmark curve, the average yield expanded at the short (+32bps) and mid (+1bp) segments driven by profit-taking activities on the MAR-2027 (+108bps) and JUL-2030 (+12bps) bonds, respectively, but declined at the long (-2bps) end due to interest in the APR-2049 (-9bps) bond.
The naira depreciated by 4bps to N1,631.17/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate contracted by 195bps to 25.0% in the absence of any significant inflows into the system.
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