Home Business Sell pressures drive FGN bond and T-Bills yield up to 15.3% and...

Sell pressures drive FGN bond and T-Bills yield up to 15.3% and 11.9% respectively, Naira drops 1.0% to N1,433.89/US$

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TUE, FEB 06 2024-theGBJournal| The Treasury bond secondary market was bearish on Tuesday, as the average yield expanded by 3bps to 15.3%.

Across the benchmark curve, the average yield rose at the short (+11bps) end due to profit-taking activities on the MAR-2027 (+47bps) bond but closed flat at the mid and long segments.

Similarly, Treasury bills secondary market stayed mired in bears as the average yield expanded by 206bps to 11.9%.

Across the curve, the average yield expanded at the short (+53bps), mid (+198bps), and long (+294bps) segments following the sell pressures on the 79DTM (+128bps), 170DTM (+252bps) and 324DTM (+515bps) bills, respectively. Elsewhere, the average yield was flat at 9.6% in the OMO segment.

The overnight lending rate contracted by 590bps to 17.0%, following the inflows from OMO maturities (NGN25.00 billion).

At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira depreciated by 1.0% to N1,433.89/USD

Mutual Fund prices and returns as of Tuesday, Feb 6 2024

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