THUR JAN 02 2025-theGBJournal|Activities in the T-bills secondary market was bullish, as the average yield contracted by 4bps to 25.5% on Thursday, as investors ponder the markets direction in the coming months.
Across the curve, the average yield contracted at the short (-3bps), mid (-3bps), and long (-4bps) segments following buying interests in the 63DTM (-4bps), 112DTM (-4bps), and 322DTM (-4bps) bills, respectively.
Conversely, the average yield expanded by 7bps to 27.2% in the OMO segment.
Meanwhile, the FGN bond secondary market traded on a quiet note, as the average yield remained at 19.4%.
Across the benchmark curve, the average yield expanded at the short (+1bp) end, driven by profit-taking activities on the JAN-2026 (+4bps) bond, but closed flat at the mid and long segments.
The overnight lending rate contracted by 55bps to 27.3% in the absence of any significant inflows into the system.
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