TUE 30 NOV, 2021-theGBJournal- The overnight lending rate expanded by 250bps to 17.8% following funding pressures that outweighed inflows from OMO maturities (NGN54.30 billion).
Trading in the NTB market was bullish, as the average yield contracted by 6bps to 4.8%. Across the benchmark curve, the average yield was unchanged at the short and mid segments but declined at the long (-13bps) end following demand for the 317DTM (-114bps) bill. Elsewhere, the average yield at the OMO segment remained flat at 5.5%.
The Treasury bond secondary market traded quietly as the average yield was unchanged at 11.3%.
Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com