TUE MAY 21 2024-theGBJournal|The FGN bond secondary market traded on a calm note on Tuesday as the average yield remained at 18.6%.
Across the benchmark curve, the average yield increased slightly at the short (+1bp) end driven by sell pressures on the MAR-2025 (+2bps) bond but closed flat at the mid and long segments.
The NTB secondary market activities were mixed, albeit with a bullish tilt, as the average yield declined by 1bp to 22.1%.
Across the curve, the average yield dipped across the short (-1bp) and mid (-1bp) segments due to buying interests in the 51DTM (-2bps) and 170DTM (-1bp) bills, respectively, but closed flat at the long end.
Elsewhere, the average yield advanced by 3bps to 20.9% in the OMO segment.
The overnight lending rate expanded by 99bps to 32.1%, in the absence of any significant outflows from the system.
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