Home Companies&Markets FGN bonds yield falls 32bps to 18.5%, treasury bills settles at 22.5%

FGN bonds yield falls 32bps to 18.5%, treasury bills settles at 22.5%

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TUE MAY 07 2024-theGBJournal| Trading in the Treasury bonds secondary market was bullish Tuesday, as the average yield contracted by 32bps to 18.5%.

Across the benchmark curve, the average yield inched higher at the short (+1bp) end following profit-taking activities on the MAR-2025 (+2bps) bond but dipped at the mid (-8bps) and long (-57bps) segments due to buying interest in the FEB-2031 (-26bps) and JAN-2042 (-110bps) bonds, respectively.

Sentiments in the NTB secondary market were bullish, as the average yield contracted by 4bps to 22.5%.

Across the curve, the average yield declined at the short (-2bps), mid (-1bp) and long (-7bps) segments, driven by investors’ interest in the 65DTM (-2bps), 170DTM (-1bp) and 233DTM (-40bps) bills, respectively.

Similarly, the average yield pared by 1bp to 18.7% in the OMO segment.

At the money market, the overnight lending rate expanded by 100bps to 29.2%, amid debits for the OMO auction (N260.65 billion) conducted yesterday.

X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com

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