MON JAN 27 2025-theGBJournal| The FGN bond secondary market was quiet albeit with a bullish tilt, as the average yield declined by 2bps to 20.4%.
Across the benchmark curve, the average yield decreased at the short (-3bps) and mid (-6bps) segments, driven by interest in the JAN-2026 (-21bps) and FEB-2031 (-19bps) bonds, respectively, while it closed flat at the long end.
Similarly, proceedings in the Treasury bills secondary market were bullish as the average yield declined by 7bps to 24.8%.
Across the curve, the average yield declined at the short (-5bps), mid (-5bps), and long (-9bps) segments, driven by demand for the 59DTM (-5bps), 164DTM (-5bps), and 311DTM (-62bps) bills, respectively.
Similarly, the average yield declined by 6bps to 28.0% in the OMO segment.
The overnight lending rate contracted by 33bps to 27.2% in the absence of any significant inflows into the system.
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