WED 16 MARCH, 2022-theGBJournal| The overnight lending rate expanded by 17bps to 5.2% in the absence of any significant funding pressure on the system.
Trading in the NTB secondary market was bullish, as the average yield contracted by 18bps to 3.1%. Across the curve, the average yield contracted at the short (-28bps), mid (-32bps), and long (-3bps) segments, following buying interests in the 85DTM (-138bps), 106DTM (-107bps) and 316DTM (-22bps) bills, respectively. Elsewhere, the average yield was flat at 3.8% in the OMO segment.
Activities in the Treasury bond secondary market ended the day mixed, as the average yield was unchanged at 10.4%. Across the benchmark curve, the average yield contracted at the short (-1bp) end as investors demanded the APR-2023 (-2bps) bond; but inched higher at the long (+1bp) end, following profit-taking on the APR-2049 (+12bps) bond. Conversely, the average yield was flat at the mid segment.
The naira was flat at 416.50/USD at the I&E window.
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