Home Money Markets Wrap| T-bills trades bearish ending day 35bps to 4.5%, bond yield...

Markets Wrap| T-bills trades bearish ending day 35bps to 4.5%, bond yield at 11.1% and Naira trades at N420.75/USD

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TUE, 14 JUNE, 2022-theGBJournal| The overnight lending rate was unchanged at 14.0% Tuesday, despite the inflow from OMO maturities (N20 billion).

Trading in the Treasury bills secondary market was bearish, as the average yield expanded by 35bps to 4.5%.

Across the curve, the average yield expanded at the short (+4bps), mid (+13bps) and long (+73bps) segments due to profit-taking on the 72DTM (+23bps), 135DTM (+41bps) and 331DTM (+138bps) bills, respectively. Similarly, the average yield expanded by 6bps to 4.5% in the OMO segment.

Proceedings in the Treasury bond secondary market were bearish as the average yield expanded by 5bps to 11.1%.

Across the benchmark curve, the average yield expanded at the short (+20bps) end as investors sold off the APR-2023 (+100bps) bond; but pared at the mid (-3bps) and long (-1bp) segments as investors demanded the APR-2032 (-9bps) and JUL-2034 (-16bps) bonds, respectively.

The naira appreciated by 0.1% to N420.75/USD at the I&E window.

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