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Markets Wrap: Treasury bond secondary market starts week bullish, NTB secondary market closed flat at 5.6%, Naira drops 0.2%

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MON 20 SEPT, 2021-theGBJournal- Trading in the Treasury bond secondary market ended on a bullish note, as the average yield contracted by 4bps to 11.2%. Across the benchmark curve, the average yield contracted at the short (-1bp) and long (-8bp) ends following demand for the APR-2023 (-2bps) and MAR-2035 (-25bps) bonds; the mid-segment was flat.

The overnight lending rate contracted by 250bps to 15.3% in the absence of any significant funding pressures on the system.

The NTB secondary market closed flat, as the average yield was unchanged at 5.6%. Similarly, the average yield at the OMO segment was flat at 6.3%.

Trading in the Treasury bond secondary market ended on a bullish note, as the average yield contracted by 4bps to 11.2%. Across the benchmark curve, the average yield contracted at the short (-1bp) and long (-8bp) ends following demand for the APR-2023 (-2bps) and MAR-2035 (-25bps) bonds; the mid-segment was flat.

The naira depreciated by 0.2% to NGN413.68/USD at the I&E window.

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