THUR, 12 MAY, 2022-theGBJournal | The overnight lending rate contracted by 138bps to 5.0%, despite outflows for net NTB issuances (NGN10.39 billion).
The NTB secondary market traded quietly, as the average yield was unchanged at 3.7%. Similarly, the average yield was flat at 4.0% in the OMO segment.
Trading activities in the Treasury bond secondary market were mixed, albeit with bullish sentiments as the average yield contracted slightly by 1bp to 11.1%. Across the benchmark curve, the average yield pared at the long (-1bps) end as investors demanded the APR-2049 (-10bps) bond, but closed flat at the short and mid segments.
The naira depreciated by 0.3% to NGN420.00/USD at the I&E window.
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