Home Money Markets Wrap| T-Bills pares by 1bp to 7.6% as yield contracts across...

Markets Wrap| T-Bills pares by 1bp to 7.6% as yield contracts across the curve, Treasury bond yield at 12.6%, naira down 0.1%

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MON, 19 SEPT, 2022-theGBJournal| The Treasury bills secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 7.6%.

Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments following mild interests in the 66DTM (-1bp) and 143DTM (-1bp) bills, respectively. The average yield was flat at the long end. Similarly, the average yield contracted slightly by 1bp to 10.6% in the OMO segment.

Activities in the Treasury bond secondary market were bullish as the average yield contracted by 4bps to 12.6%. Across the benchmark curve, the average yield contracted at the short (-6bps) and long (-3bps) ends as investors demanded the FEB-2028 (-34bps) and MAR-2025 (-23bps) bonds. Conversely, the average yield closed flat at the mid segment.

The overnight lending rate expanded by 67bps to 10.2%, in the absence of any significant outflow from the system.

The naira depreciated by 0.1% to NGN436.50/USD at the I&E window.

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