THUR MAY 30 2024-theGBJournal|The Treasury bills secondary market traded on a bearish note, as the average yield expanded by 5bps to 21.9% on Thursday.
Across the curve, the average yield advanced at the short (+11bps) and long (+6bps) ends as investors sold off the 84DTM (+70bps) and 266DTM (+89bps) bills, respectively.
Conversely, the average yield declined slightly at the mid (-1bp) segment driven by mild interest in the 175DTM (-1bp) bill.
Meanwhile, the average yield pared by 1bp to 21.4% in the OMO segment.
Proceedings in the FGN bond secondary market were muted as the average yield remained at 18.5%.
Across the benchmark curve, the average yield increased moderately at the short (+1bp) end due to sell pressures on the MAR-2025 (+2bps) bond but was unchanged at the mid and long segments.
The overnight lending rate contracted by 244bps to 29.6%, despite settlements for the OMO auction (N500.00 billion) conducted yesterday.
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