…naira appreciated by 3.8% to N818.99/USD
WED, NOV 15 2023-theGBJournal|Activities in the Treasury bills secondary market were bullish, as the average yield pared by 1bp to 13.3%.
Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-1bp) end following demand for the 344DTM (-1bp) bill. Similarly, the average yield declined by 1bp to 15.8% in the OMO segment.
Conversely, the Treasury bonds secondary market traded with bearish sentiments, as the average yield expanded by 7bps to 15.9%.
Across the benchmark curve, the average yield advanced at the short (+10bps) and long (+8bps) ends as market players sold off the MAR-2027 (+41bps) and MAR-2050 (+70bps) bonds, respectively. Elsewhere, the average yield was flat at the mid segment.
The naira appreciated by 3.8% to N818.99/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate expanded by 508bps to 23.0%, following the debits for the FGN bond PMA (N434.50 billion).
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