MON, NOV 20 2023-theGBJournal|The NTB secondary market were bullish as the average yield contracted by 1bp to 12.7%.
Across the curve, the average yield pared across the short (-1bp), mid (-1bp) and long (-2bps) segments, following demand for the 80DTM (-1bp), 171DTM (-1bp) and 339DTM (-3bps) bills, respectively. Similarly, the average yield declined by 2bps to 14.7% in the OMO segment.
Meanwhile, the FGN bond secondary market traded with bearish sentiments, as the average yield expanded by 10bps to 15.9%.
Across the benchmark curve, the average yield advanced at the short (+1bp) and long (+18bps) ends as investors sold off the JAN-2026 (+1bp) and APR-2049 (+72bps) bonds, respectively. Elsewhere, the average yield closed flat at the mid segment.
Meanwhile, the overnight lending rate expanded by 168bps to 23.9%, despite the inflow from FGN bonds coupon payment (N17.21 billion).
The naira appreciated by 5.6% to N750.14/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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