MON 08 NOV 2021-theGBJournal- The overnight lending rate contracted by 713bps to 5.3% in the absence of any significant funding pressure on the system.
The NTB secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 5.3%.
Across the benchmark curve, the average yield was unchanged at the short and mid segments but contracted at the long (-1bp) end following market participants’ demand for the 290DTM (-3bps) bill. Similarly, the average yield at the OMO segment remained flat at 6.1%.
Trading in the Treasury bond secondary market was also mixed with a bullish bias, as the average yield contracted slightly by 1bp to 11.2%. Across the benchmark curve, average yield contracted at the short (-1bp) and long (-1bp) ends due to investors’ demand for the APR-2023 (-2bps) and APR-2037 (-2bps) bonds, respectively; the mid-segment closed flat.
At the currency market, The naira was flat at NGN414.45/USD at the I&E window.
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