Home Companies&Markets Markets Wrap| Treasury bond yield expands further by 29bps to 16.2%, T-Bills...

Markets Wrap| Treasury bond yield expands further by 29bps to 16.2%, T-Bills yield falls by 20bps to 15.0%, Naira at N1,498.25/USD

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…The overnight lending rate contracted by 35bps to 15.1%

Mutual Fund prices and returns as of Thursday, Feb 15, 2024

THUR, FEB 15 2024-theGBJournal|The Treasury bond secondary market closed on a bearish note on Thursday, as the average yield expanded by 29bps to 16.2%.

Across the benchmark curve, the average yield contracted at the short (-8bps) end driven by buying interests on the MAR-2024 (-50bps) bond but advanced at the long (+60bps) end following sell pressures on the APR-2049 (+186bps) bond.

The average yield was unchanged at the mid segment.

Similarly, trading in the Treasury bills secondary market was bullish, as the average yield contracted by 20bps to 15.0%.

Across the curve, the average yield declined at the short (-12bps), mid (-35bps) and long (-17bps) segments due to demand for the 28DTM (-49bps), 175DTM (-110bps) and 266DTM (-49bps) bills, respectively.

Elsewhere, the average yield pared by 1bp to 17.8% at the OMO segment.

The overnight lending rate contracted by 35bps to 15.1%, in the absence of any significant inflows into the system.

The naira appreciated by 0.3% to NGN1,498.25/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com

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