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Treasury Bills and Bonds market extends bullish run as system liquidity closed in a net long position of N1.40 trillion

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BONDS MARKET
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THUR. 05 JANUARY, 2023-theGBJournal| Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 122bps to 4.1%.

Across the curve, the average yield closed flat at the short end but contracted at the mid (-158bps), and long (-233bps) segments following demand for the 155DTM (-224bps) and 295 DTM (-436bps) bills, respectively.

Elsewhere, the average yield was unchanged at 3.4% in the OMO segment.

Similarly, proceedings in the Treasury bond secondary market were bullish, as the average yield contracted by 10bps to 12.5%.

Across the benchmark curve, the average yield contracted at the short (-24bps) and long (-2bps) ends due to buying interests in the MAR-2024 (-87bps) and APR-2037 (-17bps) bonds, respectively.

Conversely, the average yield closed flat at the mid segment.

The naira depreciated by 0.2% to NGN461.67/USD at the I&E window.

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