THUR, DEC 28 2023-theGBJournal|The NTB secondary market traded with bullish sentiments, as the average yield contracted by 161bps to 6.3%.
Across the curve, the average yield declined at the short (-134bps), mid (-191bps) and long (-128bps) segments as participants demanded the 70DTM (-224bps), 105DTM (-261bps) and 301DTM (-256bps) bills, respectively.
Elsewhere, the average yield was unchanged at 11.4% in the OMO segment.
Proceedings in the FGN bond secondary market were bullish, as the average yield contracted by 6bps to 14.2%.
Across the benchmark curve, the average yield contracted at the short (-13bps) and long (-3bps) ends as investors demanded the MAR-2024 (-76bps) and APR-2049 (-27bps) bonds, respectively.
Conversely, the average yield was flat at the mid segment.
Meanwhile, the naira fell close to prevailing parallel market trade on, depreciating by 16.4% to N1043.09/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM). At the parallel market, the Naira was quoted at an average of N1220/US$.
The overnight lending rate contracted by 65bps to 15.7%, in the absence of any significant inflow into the system.
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