Home Money Markets Wrap| T-Bills average yield pars by 1bp to 3.7% on bullish...

Markets Wrap| T-Bills average yield pars by 1bp to 3.7% on bullish trade, bonds yields contracts by 2bps to 11.1%, naira gains 0.2% to N418.25/$

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TUE, 10 MAY, 2022-theGBJournal | Activities in the NTB secondary market were mixed, albeit with a bullish bias, as the average yield pared by 1bp to 3.7%. Across the curve, the average yield was flat at the short and mid segments but contracted at the long (-2bps) end due to demand for the 261DTM (-11bps) bill.

Elsewhere, the average yield was flat at 4.1% in the OMO segment.

The Treasury bond secondary market was also mixed, but with bullish bias, as the average yield contracted slightly by 2bps to 11.1%. Across the benchmark curve, the average yield dipped at the short (-2bps) and long (-4bps) ends as investors demanded the JAN-2026 (-11bps) and MAR-2050 (-10bps) bonds, respectively; the average yield closed flat at the mid-segment.

The overnight lending rate contracted by 133bps to 5.0%, following the inflow from OMO maturities (NGN38.08 billion).

At the fx market, the naira appreciated by 0.2% to NGN418.25/USD at the I&E window.

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