WED, NOV 08 2023-theGBJournal| Trading activities in the Treasury bills secondary market were bullish, as the average yield contracted by 7bps to 14.3%.
Across the curve, the average yield declined across the short (-38bps), mid (-1bp) and long (-1bp) segments, following demand for the 15DTM (-151bps), 169DTM (-1bp) and 351DTM (-1bp) bills, respectively.
Similarly, the average yield dipped by 1bp to 15.9% in the OMO segment.
Meanwhile, proceedings in the Treasury bonds secondary market were bearish, as the average yield expanded by 1bp to 15.8%.
Across the benchmark curve, the average yield advanced at the short (+2bps) end as investors sold off the FEB-2028 (+5bps) bond but was unchanged at the mid and long segments.
Meanwhile, the overnight lending rate expanded by 13bps to 17.4%, in the absence of any significant outflows from the system.
At FX market, the naira depreciated by 0.6% to N874.71/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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