MON MAY 20 2024-theGBJournal|Trading in the Treasury bond secondary market was calm, as the average yield expanded marginally by 1bp to 18.6%. Across the benchmark curve, the average yield increased at the short (+2bps) end driven by sell pressures on the MAR-2025 (+5bps) bond but closed flat at the mid and long segments.
The Nigerian Treasury bills secondary market traded on a bullish note, as the average yield dipped by 4bps to 22.1%.
Across the curve, the average yield contracted at the short (-4bps), mid (-3bps) and long (-4bps) segments, due to interests in the 52DTM (-5bps), 157DTM (-4bps) and 339DTM (-5bps) bills, respectively. Similarly, the average yield declined by 4bps to 20.9% in the OMO segment.
At the money market, the overnight lending rate expanded by 40bps to 31.1%, in the absence of any significant outflows from the system.
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