TUES, 25 OCT, 2022-theGBJournal| Activities in the Treasury bills secondary market were largely bearish, as the average yield expanded by 103bps to 11.1%.
Across the curve, most of the day’s activity was witnessed at the short (+482bps) end as market participants sold off the 16DTM (+725bps) bill. Conversely, the average yield closed flat at the mid and long segments.
Elsewhere, the average yield was unchanged at 10.2% in the OMO segment.
Trading in the FGN bond secondary market was bearish, as the average yield expanded by 15bps to 14.2%. Across the benchmark curve, the average yield was flat at the short and mid segments but expanded at the long (+35bps) end due to profit-taking on the APR-2049 (+126bps) bond.
At the money market, the naira depreciated by 0.1% to N441.67/USD at the I&E window. The overnight lending rate expanded by 1bp to 16.5%, despite the inflow from OMO maturities (N29.67 billion).
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