Home Money Markets Wrap| Treasury bond average yield ends day at 11.1%, T-Bills unchanged...

Markets Wrap| Treasury bond average yield ends day at 11.1%, T-Bills unchanged at 3.6% and lending rate expands by 88bps to 12.4%

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WED, 18 MAY, 2022-theGBJournal | The Treasury bond secondary market was mixed but with a bullish bias, as the average yield contracted by 2bps to 11.1%.

Across the benchmark curve, the average yield expanded at the short (+3bps) end due to sell-off of the JAN-2026 (+9bps) bond; but contracted at the mid (-9bps) and long (-1bp) segments following demand for the APR-2029 (-12bps) and JUL-2034 (-9bps) bonds, respectively.

The overnight lending rate expanded by 88bps to 12.4%, in the absence of any significant funding pressure on the system.

Quiet trading continued in the Treasury bills secondary market, as the average yield remained at 3.6%. Similarly, the average yield was unchanged at 4.0% in the OMO segment.

The naira depreciated by 0.2% to NGN419.25/USD at the I&E window.

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