Home Money Markets Wrap: Naira falls 1.7% to N422.07/$, bond yield closed flat at...

Markets Wrap: Naira falls 1.7% to N422.07/$, bond yield closed flat at 11.3%, demand for the 14dtm and 105dtm bills dominate T-Bills trading

By
Editor
-
231
0
Access Pensions, Future Shaping

THUR 14 OCT, 2021-theGBJournal- The overnight lending rate expanded by 325bps to 11.3%, following outflows for net NTB issuances (NGN65.57 billion).

Trading in the NTB secondary market was bullish, as the average yield contracted by 9bps to 5.2%. Across the benchmark curve, the average yield contracted at the short (-29bps), and mid (-10bps) segments due to demand for the 14DTM (-34bps) and 105DTM (-18bps) bills, respectively; the long end was flat. Elsewhere, the average yield at the OMO segment was flat at 6.5%.

The Treasury bond secondary market was quiet as the average yield closed flat at 11.3%. Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end following sell-off of the JAN-2026 (+21bps) bond but was flat at the mid and long segments.

The naira depreciated by 1.7% to NGN422.07/USD at the I&E window.

Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com

 

Related posts:

  1. Markets Wrap: Naira moves lower again against US Dollar, Treasury bond ends day bullish, OVN lending rate drops by 580bps to 7.8%
  2. Markets Wrap: Treasury bond average yield closes 3bps to 11.1%, OVN rate drops 192bps to 6.8% in the absence significant funding pressures, NTB secondary market was bullish
  3. Markets wrap: Bonds average yield shrinks at the short, mid and long segments, NTB secondary market was bearish, naira stays flat at N415.07/$
  4. Markets Wrap: Bonds firmer by 1bp, overnight rate begins week at 11.3%, NTB unchanged
Access Pensions, Future Shaping

RELATED ARTICLESMORE FROM AUTHOR