TUE 26 OCT, 2021-theGBJournal- The overnight lending rate contracted by 75bps to 12.3%, following inflows from OMO maturities (NGN93.00 billion).
The NTB secondary market closed with mixed sentiments albeit with a bullish tilt, as the average yield pared by 3bps to 5.5%. Across the benchmark curve, average yield was unchanged at the short and long ends but contracted at the mid (-9bps) segment due to investors’ demand for the 184DTM (-52bps) bill.
Similarly, the average yield at the OMO segment declined by 11bps to 6.4%.
Trading in the Treasury bond secondary market was bearish, as the average yield expanded by 9bps to 11.3%. Across the benchmark curve, average yield expanded at the short (+29bps) end as investors sold off the APR-2023 (+73bps) bond but moderated at the long (-1bp) end following demand for the MAR-2050 (-6bps) bond; the mid-segment remained unchanged.
Meanehile, the naira was flat at NGN415.10/USD at the I&E window.
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