THUR AUG 15 2024-theGBJournal| Nigeria Treasury yields fell Thursday despite lower than expected inflation figures.
Treasury bonds average yield fell by 12bps to 19.4%. Across the benchmark curve, the average yield dipped at the short (-36bps) and long (-8bps) ends driven by demand for APR-2029 (-128bps) and JUN-2038 (-45bps) bonds, respectively, but advanced at the mid (+4bps) segment due to sell-offs on the APR-2032 (+45bps) bond.
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 15bps to 25.3%.
Across the curve, the average yield declined at the short (-1bp), mid (-12bps), and long (-26bps) segments following buying interests in the 84DTM (-2bps), 175DTM (-70bps), and 238DTM (-215bps) bills, respectively.
Similarly, the average yield contracted by 29bps to 25.9% in the OMO segment.
The overnight lending rate contracted by 184bps to 33.2% in the absence of any significant inflows into the system
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