TUE AUG 13 2024-theGBJournal| Trading in the Treasury bills secondary market remained bullish Tuesday, as the average yield contracted by 7bps to 25.6%.
Across the curve, the average yield declined at the short (-1bp), mid (-2bps), and long (-14bps) segments due to buying interest in the 86DTM (-2bps), 177DTM (-2bps), and 205DTM (-149bps) bills, respectively.
Elsewhere, the average yield expanded by 44bps to 26.6% in the OMO segment.
Meanwhile, the Treasury bonds secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 19.6%. Across the benchmark curve, the average yield closed flat at the short end but declined at the mid (-5bps) segment due to demand for the JUN-2033 (-24bps) bond.
Conversely, the average yield advanced slightly at the long (+1bp) end as investors sold off the JUN-2053 (+20bps) bond.
The overnight lending rate expanded by 22bps to 37.0% despite the inflows from OMO maturities (NGN20.50 billion).
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