TUE, 28 JUNE, 2022-theGBJournal| At the money market, the overnight lending rate was unchanged at 14.0%, in the absence of any significant funding pressure on the system.
Activities in the NTB secondary market were bearish, as the average yield expanded by 14bps to 5.2%. Across the curve, the average yield expanded at the short (+45bps) end, due to profit-taking on the 16DTM (+271bps) bill, but contracted at the mid (-2bps) segment following buying interest in the 149DTM (-8bps) bill. The average yield closed flat at the long end. Elsewhere, the average yield was unchanged at 5.2% in the OMO segment.
The Treasury bond secondary market traded with mixed sentiments, although with a bearish tilt, as the average yield expanded slightly by 1bp to 11.1%. Across the benchmark curve, the average yield dipped at the short (-3bps) end as investors demanded the JAN-2026 (-20bps) bond but expanded at the mid (+4bps) and long (+2bps) segments following sell-offs of the APR-2032 (+6bps) and JUL-2034 (+7bps) bonds, respectively.
At the Fx market, the naira depreciated by 0.1% to NGN421.50/USD at the I&E window.
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