…The overnight lending rate expanded by 111bps to 31.6%, following the debits for the net NTB issuance (N979.79 billion).
THUR, MAR 07 2024-theGBJournal| The FGN bond secondary market stayed bearish on Thursday, as the average yield expanded by 69bps to 17.9% from Wednesday’s close of 17.2%.
Across the benchmark curve, the average yield increased at the short (+49bps), mid (+32bps) and long (+96bps) segments due to sell-offs of the FEB-2028 (+114bps), APR-2032 (+98bps) and MAR-2036 (+238bps) bonds, respectively.
Trading in the NTB secondary market also stayed bearish, as the average yield expanded by 73bps to 18.3% from 17.6% on Wednesday.
Across the curve, the average yield advanced at the short (+18bps), mid (+120bps) and long (+83bps) segments, following sell pressures on the 91DTM (+132bps), 154DTM (+203bps) and 259DTM (+144bps) bills, respectively.
Elsewhere, the average yield declined by 10bps to 18.9% in the OMO segment.
The overnight lending rate expanded by 111bps to 31.6%, following the debits for the net NTB issuance (N979.79 billion).
Meanwhile, the naira appreciated by 0.2% to N1,602.17/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM), after dipping by 0.2% to N1,605.74/US$ at close of Wednesday’s official trading.
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