Home Companies&Markets MarketsWrap| Treasury bills yield expands by 9bps to 14.4%, Naira depreciates by...

MarketsWrap| Treasury bills yield expands by 9bps to 14.4%, Naira depreciates by 4.1% to N809.02/US$

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MON, NOV 06 2023-theGBJournal|The Nigerian Treasury bills secondary market traded on a bearish note, as the average yield expanded by 9bps to 14.4%.

Across the curve, the average yield contracted at the short (-1bp) and long (-2bps) ends, following buying interest in the 80DTM (-1bp) and 353DTM (-3bps) bills, respectively.

Meanwhile, the average yield advanced at the mid (+33bps) segment as players sold off the 157DTM (+124bps) bill. Elsewhere, the average yield contracted by 2bps to 15.9% in the OMO segment.

Similarly, the Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 3bps to 15.7%.

Across the benchmark curve, the average yield expanded at the short (+13bps) end due to profit-taking activities on the JAN-2026 (+55bps) bond but pared at the mid (-1bp) and long (-1bp) segments, as investors demanded the JUN-2033 (-5bps) and JUN-2034 (-10bps) bonds, respectively.

The overnight lending rate expanded by 19bps to 16.9%, in the absence of any significant funding pressure on the system.

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