Home Money Markets Wrap|T-Bills ends day’s trading 3.7% on bullish sentiments, bonds yield unchanged...

Markets Wrap|T-Bills ends day’s trading 3.7% on bullish sentiments, bonds yield unchanged at 11.1%

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MON, 09 MAY, 2022-theGBJournal | Trading in the Treasury bills secondary market was bullish, as the average yield contracted by 3bps to 3.7%. Across the curve, the average yield was flat at the short and long ends but contracted at the mid (-10bps) segment due to demand for the 157DTM (-58bps) bill. Elsewhere, the average yield was flat at 4.1% in the OMO segment.

The Treasury bonds secondary market traded with mixed sentiments as the average yield was unchanged at 11.1%. Across the benchmark curve, the average yield pared at the short (-1bp) end as investors demanded the MAR-2024 (-3bps) bond; but inched higher at the long (+1bp) end as investors sold off the APR-2037 (+2bps) bond. The average yield closed flat at the mid segment.

The overnight lending rate expanded by 141bps to 6.3% in the absence of any funding pressures in the system.

And at the FX market, the naira depreciated by 0.5% to NGN419.00/USD at the I&E window.

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