Home Business MarketsBrief| Naira appreciates by 1.5% to N872.59/US$ at NAFEM, bonds and T-Bills...

MarketsBrief| Naira appreciates by 1.5% to N872.59/US$ at NAFEM, bonds and T-Bills yield falls 21bps and 14bps respectively

113
0
Access Pensions, Future Shaping
Cordros Mutual Fund prices and returns as of Wednesday 27 December, 2023

WED, DEC 27 2023-theGBJournal| Treasury bills secondary market traded bullish on Wednesday as the average yield contracted by 21bps to 7.9%.

Across the curve, the average yield dipped across the short (-65bps), mid (-1bp) and long (-7bps) segments driven by bargain hunting in the 92DTM (-219bps), 162DTM (-1bp) and 330DTM (-65bps) bills, respectively.

Similarly, the average yield declined by 2bps to 11.4% in the OMO segment.

In the same vein, the FGN bond secondary market traded with bullish sentiments, as the average yield decreased by 14bps to 14.2%.

Across the benchmark curve, the average yield declined at the short (-40bps) and long (-3bps) ends as investors demanded the MAR-2024 (-164bps) and APR-2037 (-15bps) bonds, respectively.

The average yield was unchanged at the mid segment.

Meanwhile, the overnight lending rate expanded by 106bps to 16.4%, in the absence of any significant funding pressure on the system.

The naira appreciated by 1.5% to N872.59/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

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

Access Pensions, Future Shaping
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments