Home Money Markets Wrap| T-Bills expands27bps to 5.1% on bearish sentiments, bonds yield at...

Markets Wrap| T-Bills expands27bps to 5.1% on bearish sentiments, bonds yield at 11.1% and local currency trades 0.2% lower at N421/US$

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MON, 27 JUNE, 2022-theGBJournal| The overnight lending rate was flat at 14.0%, in the absence of any significant funding pressure on the system.

The Nigerian Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 27bps to 5.1%. Across the curve, the average yield expanded at the short (+28bps), mid (+76bps), and long (+1bp) segments as market participants sold off the 45DTM (+86bps), 108DTM (+139bps), and 213DTM (+8bps) bills, respectively.

Elsewhere, the average yield remained flat at 5.2% in the OMO segment.

Similarly, activities in the Treasury Bonds secondary market were bearish, as the average yield inched higher by 3bps to 11.1%. Across the benchmark curve, the average yield expanded at the short (+1bp) and long (+5bps) ends as investors demanded the APR-2023 (+13bps) and JUL-2045 (+54bps) bonds, respectively. The average yield was flat at the mid segment.

The naira depreciated by 0.2% to NGN421.00/USD at the I&E window.

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