TUE, SEPT 19 2023-theGBJournal |The NTB secondary market traded with mixed sentiments, albeit with a bearish tilt, as the average yield expanded slightly by 1bp to 7.9%.
Across the curve, the average yield closed flat at the short and mid segments but advanced at the long (+1bp) end due to sell pressures on the 324DTM (+9bps) bill. Elsewhere, the average yield was flat at 13.4% in the OMO segment.
In the same vein, sentiments in the Treasury bond secondary market were mixed but with a bearish undertone, as the average yield inched higher by 1bp to 14.4%.
Across the benchmark curve, the average yield closed flat at the short and mid segments but expanded slightly at the long (+1bp) end as investors sold off the JUN-2053 (+5bps) bond.
The naira depreciated by 0.3% to N776.60/USD at the I&E window.
The overnight lending rate contracted by 131bps to 15.4%, in the absence of any significant inflows into the system.
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