TUE, 07 JUNE, 2022-theGBJournal| The naira depreciated by 0.1% to NGN420.75/USD at the I&E window.
The overnight lending rate expanded by 42bps to 7.5%, in the absence of any significant funding pressure on the system.
Activities in the NTB secondary market were mixed, as the average yield stayed flat at 4.0%. Across the curve, the average yield expanded at the short (+1bp) and long (+2bps) ends as participants sold off the 93DTM (+7bps) and 275DTM (+19bps) bills, respectively; but contracted at the mid (-6bps) segment following demand for the 170DTM (-21bps) bill. The average yield was unchanged at 4.4% in the OMO segment.
The Treasury bonds secondary market traded with bearish sentiments, as the average expanded by 3bps to 11.1%. Across the benchmark curve, the average yield expanded at the short (+1bp), mid (+3bps), and long (+4bps) ends as investors sold off the MAR-2024 (+13bps), APR-2032 (+10bps), and JUL-2034 (+18bps) bonds, respectively.
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