Home Money Markets Wrap| T-Bills yield down by 8bps to 3.2%, bond yield expands...

Markets Wrap| T-Bills yield down by 8bps to 3.2%, bond yield expands 2bps to 10.5%, naira down 0.2% at I&E window

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TUE 22 MARCH, 2022-theGBJournal| The Treasury Bills secondary market traded with bullish sentiments as the average yield contracted by 8bps to 3.2%.

Across the curve, the average yield was flat at the short end, expanded at the mid (+17bps) segment as market participants sold off the 142DTM (+16bps) bill but contracted at the long (-30bps) end following increased demand for the 247DTM (-79bps) bill.

Elsewhere, the average yield was unchanged at 3.6% in the OMO segment.

The overnight lending rate expanded by 200bps to 11.7%, despite the inflow from OMO maturities (NGN42.00 billion).

Proceedings at the Treasury bond secondary market were mixed, albeit with a bearish bias, as the average yield expanded slightly by 2bps to 10.5%.

Across the benchmark curve, the average yield expanded at the short (+4bps) and long (+1bp) ends following sell pressures on the JAN-2026 (+11bps) and APR-2037 (+9bps) bonds, respectively. Conversely, the average yield was unchanged at the mid segment.

The naira depreciated by 0.2% to NGN417.00/USD at the I&E window.

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