WED. 11 JANUARY, 2023-theGBJournal| Trading in the Nigerian Treasury bills secondary market was quiet, as market participants anticipated the result of today’s PMA.
Thus, the average yield was flat at 2.9%. Similarly, the average yield was unchanged at 3.4% in the OMO segment.
Activities in the FGN bonds secondary market were bullish, as the average yield contracted by 4bps to 12.5%.
Across the benchmark curve, the average yield contracted at the short (-10bp) end due to investors’ demand for the FEB-2028 (-41bps) bond, but closed flat at the mid and long segments.
Meanwhile, the naira depreciated by 0.1% to NGN461.90/USD at the I&E window.
The overnight lending rate remained at 9.8%, as the system liquidity closed at a net long position (NGN449.24 billion).
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