THUR, 19 MAY, 2022-theGBJournal | The naira depreciated by 0.3% to NGN420.33/USD at the I&E window.
The overnight lending rate expanded by 13bps to 12.5% in the absence of any significant inflows in the system.
The NTB secondary market turned bearish as the average yield expanded by 2bps to 3.7%. Across the curve, the average yield expanded at the mid (+5bps) and long (+2bps) segments due to profit-taking on the 133DTM (+31bps) and 252DTM (+14bps) bills, respectively; the average yield was flat at the short end. Elsewhere, the average yield was unchanged at 4.0% in the OMO segment.
Activities in the Treasury bond secondary market were mixed, albeit with a bearish tilt, as the average yield expanded slightly by 1bp to 11.1%. Across the benchmark curve, the average yield was flat at the short end but contracted at the mid (-3bps) segment as investors demanded the APR-2029 (-5bps) bond. Conversely, the average expanded at the long (+4bps) end following sell-offs of the APR-2037 (+27bps) bonds.
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