Home Money Markets Wrap| T-Bills yield pares by 1bp to 4.4%, bonds yield closed...

Markets Wrap| T-Bills yield pares by 1bp to 4.4%, bonds yield closed +144bps up at short end on expiration of short-dated JAN-2022 bond

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THUR 27 JAN, 2022-theGBJournal- The NTB secondary market traded with mixed sentiments, albeit with bullish bias, as the average yield pared by 1bp to 4.4%.

Across the benchmark curve, the average yield was unchanged at the short and mid segments but contracted at the long (-1bp) end following demand for the 301DTM (-11bps) bill. Similarly, the average yield at the OMO segment declined by 14bps to 5.6%.

Trading in the Treasury bond secondary market was bearish as the average yield expanded by 65bps to 11.5%. Across the benchmark cure, the average yield closed higher at the short (+144bps) end following the expiry of the short-dated JAN-2022 bond and also expanded at the mid (+12bps) and long (-1bp) segments as investors sold off the FEB-2028 (+19bps) and JUL-2034 (+5bps) bonds, respectively.

The overnight lending rate contracted by 85bps to 1.0%, as inflows from the maturing JAN-2022 bond (NGN605.31 billion) outweighed funding pressures for the net NTB issuance (NGN94.42 billion).

At the currency market, the naira was flat at NGN416.33/USD at the I&E window.

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