WED JUNE 19 2024-theGBJournal| Treasury bond secondary market was mostly calm on today as the average yield increased slightly by 1bp to 18.6%.
Across the benchmark curve, the average yield expanded at the short (+4bps) end as investors sold off the MAR-2025 (+11bps) bond but was unchanged at the mid and long segments.
The Treasury bills secondary market traded with bullish sentiments as the average yield contracted by 7bps to 21.8%.
Across the curve, the average yield dipped at the short (-5bps), mid (-6bps) and long (-8bps) segments driven by buying interest in the 8DTM (-6bps), 176DTM (-6bps) and 337DTM (-9bps) bills, respectively. Likewise, the average yield declined by 7bps to 21.7% in the OMO segment.
The overnight lending rate expanded by 89bps to 27.1%, in the absence of any significant funding pressure on the system.
Meanwhile, the naira closed flat at N1,483.02/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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