TUE 14 SEPT, 2021-theGBJournal- The naira appreciated by 0.2% to NGN412.08/USD at the I&E window but depreciated by 1.3% to NGN557.00/USD in the parallel market.
At the Money market, the overnight lending rate contracted by 25bps to 14.5% in the absence of any significant funding pressures on the system.
Trading in the NTB secondary market closed on a bullish note, as the average yield contracted by 9bps to 4.8%.
Across the curve, the average yield contracted at the short (-30bps) and mid (-5bps) segments due to demand for the 16DTM (-36bps) and 121DTM (-13bps) bills but was flat at the long end.
Similarly, the average yield at the OMO segment contracted by 14bps to 6.1%.
The Treasury bond secondary market was bearish, as the average yield expanded by 22bps to 11.3%.
Across the benchmark curve, the average yield expanded at the short (+10bp), mid (+55bps), and long (+18bp) segments following demand for the MAR-2027 (+69bps), FEB-2028 (+60bps) and MAR-2050 (+52bps) bonds, respectively.
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