WED, JULY 05 2023-theGBJournal |The overnight lending rate contracted by 42bps to 1.2%, in the absence of any significant inflows into the system.
Sentiments in the NTB secondary market were bullish, as the average yield declined by 8bps to 6.3%. Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-13bps) end, following buying interest in the 246DTM (-102bps) bill.
Meanwhile, the FGN bond secondary market closed on a bearish note, as the average yield expanded by 4bp to 13.1%.
Across the benchmark curve, the average yield advanced at the short (+20bps) end as participants sold off the MAR-2027 (+126bps) bond but contracted at the long (-2bps) end due to demand for the MAR-2050 (-22bps) bond. Conversely, the average yield closed flat at the mid segment.
The naira printed NGN768.44/USD at the I&E window as of 4th July.
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