…The overnight lending rate expanded by 82bps to 25.8%, following the debits for Friday’s OMO auction (N264.33 billion)
MON JULY 01 2024-theGBJournal| The FGN bond secondary market traded on a calm note, as the average yield notched higher by 1bp to 18.6%.
Across the benchmark curve, the average yield increased at the short (+2bps) end due to selloffs of the MAR-2025 (+7bps) bond while it stayed flat at the mid and long segments.
Proceedings in the NTB secondary market was bullish as the average yield contracted by 4bps to 22.0%.
Across the curve, the average yield declined at the short (-3bps), mid (-4bps), and long (-5bps) segments as participants demanded the 87DTM (-3bps), 178DTM (-4bps), and 325DTM (-6bps) bills, respectively.
Similarly, the average yield dipped by 5bps to 23.4% in the OMO segment.
Meanwhile, the overnight lending rate expanded by 82bps to 25.8%, following the debits for Friday’s OMO auction (N264.33 billion).
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