Home Money Markets Wrap|FGN bond up 3bps to 14.3%, Treasury Bills yield pars by...

Markets Wrap|FGN bond up 3bps to 14.3%, Treasury Bills yield pars by 1bp to 11.0%, Naira stays flat at N445.33/$ at the I&E window

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MON. 05 DEC, 2022-theGBJournal| Activities in the Treasury bills secondary market were mixed, albeit with a bullish tilt, as the average yield pared by 1bp to 11.0%.

Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments following mild interests in the 84DTM (-1bp), 175DTM (-1bp), and 329DTM (-2bps) bills, respectively.

Similarly, the average yield contracted slightly by 1bp to 10.1% in the OMO segment.

Trading in the FGN bond secondary market was bearish, as the average yield expanded by 3bps to 14.3%.

Across the benchmark curve, the average yield expanded at the short (+8bps) end, due to the selloff of the APR-2023 (+76bps) bond but closed flat at the mid and long segments.

The naira was flat at NGN445.33/USD at the I&E window.
The overnight lending rate contracted by 25bps to 12.8%, as system liquidity settled at a net long position (N189.63 billion).

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