MON, MAR 25 2024-theGBJournal| The Fixed income market finished Monday with contrasting sentiments with bears feasting on the bonds market just as Treasury bills secondary market finished the day bullish.
At the treasury bond secondary market, activities was quiet with a bearish bias, as the average yield expanded slightly by 1bp to 19.1%.
Across the benchmark curve, the average yield increased at the short (+2bps) end due to sell-offs on the MAR-2025 (+5bps) bond but was unchanged at the mid and long segments.
Trading in the Treasury bills secondary market was bullish, as the average yield declined by 3bps to 17.7%.
Across the curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-3bps) segments driven by demand for the 73DTM (-2bps), 171DTM (-3bps) and 332DTM (-4bps) bills, respectively.
Similarly, the average yield dipped by 3bps to 18.5% in the OMO segment.
The overnight lending rate contracted by 84bps to 26.5%, following inflows from FGN bond coupon payments (N124.11 billion).
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