TUE, JAN 09 2024-theGBJournal|The Nigerian Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 53bps to 3.8%.
Across the curve, the average yield declined at the short (-81bps), mid (-39bps) and long (-85bps) segments as participants demanded the 65DTM (-162bps), 93DTM (-161bps) and 352DTM (-244bps) bills, respectively.
Elsewhere, the average yield was unchanged at 8.4% in the OMO segment.
Similarly, the Treasury bond secondary market was bullish, as the average yield contracted by 24bps to 13.5%. Across the benchmark curve, the average yield dipped at the short (-22bps), mid (-4bps) and long (-30bps) segments as investors demanded the MAR-2024 (-92bps), JUN-2033 (-12bps) and APR-2037 (-68bps) bonds, respectively.
The naira depreciated by 21.4% to NGN1,089.51/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate contracted by 150bps to 7.0%, in the absence of any significant inflow into the system.
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