Home Money Markets Wrap: Overnight lending rate shrinks by 133bps to 2.0%, Treasury bonds...

Markets Wrap: Overnight lending rate shrinks by 133bps to 2.0%, Treasury bonds pares by 1bp to 11.2%, Naira gains 0.1%

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THUR 11 NOV, 2021-theGBJournal- The overnight lending rate contracted by 133bps to 2.0% in the absence of any significant funding pressures on the system.

Trading in the NTB secondary market was bullish, as the average yield contracted by 11bps to 5.2%.

Across the benchmark curve, the average yield contracted at the short (-7bps), mid (-12bps) and long (-12bps) segments as investors demanded for the 15DTM (-18bps), 183DTM (-38bps) and 197DTM (-95bps) bills, respectively. Elsewhere, the average yield at the OMO segment expanded by 3bps to 6.0%.

The Treasury bond secondary market was mixed, albeit with a bullish bias, as the average yield pared by 1bp to 11.2%. Across the benchmark curve, the average yield contracted at the short (-1bp) and long (-2bps) ends following demand for the JAN-2022 (-3bps) and APR-2049 (-12bps) bonds but was flat at the mid-segment.

At the currency market, the naira appreciated by 0.1% to NGN414.73/USD at the I&E window

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