…Proceedings in the NTB secondary market remained calm, albeit with a bullish undertone, as the average yield contracted slightly by 1bp to 19.0%.
WED MARCH 12 2025-theGBJournal| The Treasury bond secondary market traded on a bearish note, as the average yield expanded by 1bp to 18.2%.
Across the benchmark curve, the average yield expanded at the short (+1bp), mid (+1bp) and long (+2bps) segments due to sell pressures on the JUL-2030 (+3bps), FEB-2031 (+4bps) and JUN-2053 (+14bps) bonds, respectively.
Proceedings in the NTB secondary market remained calm, albeit with a bullish undertone, as the average yield contracted slightly by 1bp to 19.0%.
Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, driven by the demand for the 85DTM (-1bp) and 176DTM (-1bp) bills, respectively, but expanded at the long (+1bp) end due to the selloff of the 344DTM (+28bps) bill.
Similarly, the average yield declined by 2bps to 22.4% in the OMO segment.
The naira depreciated against the US dollar, closing at N1,536.15 in official markets and N1,580 in the parallel market due to increased demand from foreign investors and debt service payments amid limited supply.
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