WED JULY 02 2025-theGBJournal| The Nigerian Treasury bill market and the FGN bond secondary market traded on a bullish note Wednesday, as the naira firmed against the U.S dollar after a 0.6% drop on Tuesday.
The treasury bills average yield dropped by 20bps to 19.9%.
However, across the curve, the average yield expanded at the short (-18bps), mid (-48bps) and long (-6bps) segments, driven by the demand for the 78DTM (-46bps), 141DTM (-130bps) and 232DTM (-63bps) bills, respectively.
The average yield contracted by 39bps to 25.7% in the OMO segment.
The FGN bond average yield also contracted, dropping by 33bps to 17.7%.
Across the benchmark curve, the average yield contracted at the short (-16bps), mid (-49bps) and long (-35bps) segments, driven by the demand for the FEB-2028 (-54bps), MAR-2035 (-84bps) and APR-2037 (-127bps) bonds, respectively.
The overnight lending rate expanded by 4bps to 27.0% in the absence of any significant funding pressures on the system.
Meanwhile, the local currency, the naira climbed 0.7% to N1,525.00/US$1 from N1,535/US$1.
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