MON JUNE 02 2025-theGBJournal| The Treasury bill secondary market was bearish on Monday as participants focused on the OMO auction where the apex bank offered N600 billion.
The average yield expanded by 1bp to 20.7%, a result.
Across the curve, the average yield contracted at the short (-3bps) and mid (-3bps) segments, driven by buying interest in the 80DTM (-3bps) and 157DTM (-4bps) bills, respectively, while it expanded at the long (+4bps) end, following profit taking activities in the 220DTM (+77bps) bill.
In contrast, the average yield contracted by 5bps to 26.0% in the OMO segment.
Elsewhere, the Treasury bond secondary market was quiet, as the average yield closed flat at 18.5%.
Across the benchmark curve, the average yield expanded at the short (+3bps) end, driven by profit-taking activities in the JAN-2026 (+14bps) bond, while it expanded at the long (+2bps) end, underpinned by the demand for the JUN-2038 (-18bps) bond. The average yield remained unchanged at the mid segment.
The overnight lending rate contracted by 1bp to 26.9% in the absence of any significant inflows into the system.
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