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Markets Wrap| Treasury bond bullish as average yield pared by 1bp, Naira gains at the I&E window, NTB average yield unchanged at 4.5%

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MON 13 DEC, 2021-theGBJournal- Trading at the Treasury bond secondary market ended the day mixed, albeit with a bullish tilt, as the average yield pared by 1bp to 11.4%.

Across the benchmark curve, the average yield declined slightly at the short (-1bp) and long (-1bp) ends following investors’ demand for the APR-2023 (-3bps) and APR-2049 (-3bps) bonds, respectively; the mid segment remained unchanged.

The overnight lending rate contracted by 375bps to 14.0% in the absence of significant funding pressures on the system.

The NTB secondary market traded quietly as the average yield was unchanged at 4.5%. Similarly, mixed sentiments were recorded at the OMO segment as the average yield closed flat at 5.5%.

At the currency market, the naira was appreciated by 0.3% to NGN414.06/USD at the I&E window.

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