Home Money Markets Watch: Treasury bond average yield closes at 11.9%, naira gains 0.4%...

Markets Watch: Treasury bond average yield closes at 11.9%, naira gains 0.4% to N410/US$, overnight lending rate expands 25bps to 19.3%

56
0

TUE 22 JUNE, 2021-theGBJournal- The naira appreciated at the I&E window by 0.4% to NGN410.00/USD but was flat at NGN500.00/USD at the parallel market Tuesday. The Central Bank of Nigeria (CBN) official rate remained unchanged at N410.20/US$

At the money market, the overnight lending rate expanded by 25bps to 19.3%, as funding pressures outweighed inflows from OMO maturities (NGN15.00 billion).

The NTB secondary market was mixed, as the average yield closed flat at 6.4%. Similarly, the average yield at the OMO segment closed flat at 9.7%.

The Treasury bond secondary market traded flat, as the average yield was unchanged at 11.9%. Across the benchmark curve, the average yield contracted at the mid (-4bps) segment due to demand for the MAR-2027 (-9bps) bond, but expanded slightly at the long (+2bps) end due to the sell-off of the MAR-2035 (+14bps) bond;  the short end closed flat.

Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com