MON, 15 AUG, 2022-theGBJournal| The NTB secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 7.9%.
Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments following buying interests on the 24DTM (-1bp) and 101DTM (-1bp) bills, respectively; but closed flat at the long end. Similarly, the average yield contracted slightly by 1bp to 11.1% in the OMO segment.
The Treasury bond secondary market traded quietly as market participants anticipated the result of today’s bond PMA. Thus, the average yield was unchanged at 12.6%.
The overnight lending rate expanded by 150bps to 14.50%, in the absence of any significant funding pressure on the system.
The naira depreciated by 0.1% to NGN430.00/USD at the I&E window. At the unofficial market, the currency trades between N670-N700 with an average of N680/$.
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