…The overnight lending rate expanded by 50bps to 22.6%, in the absence of any significant outflows from the system.
…NTB secondary market traded with mixed sentiments
TUE, DEC 19 2023-theGBJournal|The FGN bond secondary market closed on a bullish note, as the average yield contracted by 5bps to 14.4%.
Across the benchmark curve, the average yield contracted at the short (-2bps), mid (-9bps) and long (-5bps) segments as investors demanded the APR-2029 (-9bps), JUN-2033 (-9bps) and MAR-2035 (-9bps) bonds, respectively.
The NTB secondary market traded with mixed sentiments but with a bearish undertone, as the average yield expanded slightly by 1bp to 8.3%.
Across the curve, the average yield was unchanged at the short and mid segments but expanded at the long (+2bps) end, as participants sold off the 233DTM (+22bps) bill. Elsewhere, the average yield declined by 154bps to 11.4% in the OMO segment.
The naira appreciated by 5.2% to NGN844.85/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate expanded by 50bps to 22.6%, in the absence of any significant outflows from the system.
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