Home Companies&Markets Markets Wrap: Naira trades flat at N503/US$, bond average yield expands slightly...

Markets Wrap: Naira trades flat at N503/US$, bond average yield expands slightly to 11.5% and overnight lending rate closes at 10.5%

45
0

WED 07 JULY, 2021-theGBJournal- The naira was flat at NGN411.45/USD and NGN503.00/USD at the I&E window and parallel market, respectively.

The overnight lending rate expanded by 25bps to 10.5%, in the absence of any significant inflow into the system.

The NTB secondary market was mixed albeit with a bearish tilt, as the average yield expanded slightly by 1bp to 6.8%. Across the benchmark curve, average yield expanded at the long (+1bp) end following sell-off of the 309DTM (+23bps) bill.

The short and mid segments closed flat. Similarly, the average yield at the OMO segment expanded by 2bps to 9.9%.

Trading in the Treasury bond secondary market was mixed with a bearish sentiment, as the average yield expanded slightly by 1bp to 11.5%. Across the benchmark curve, average yield expanded at the short (+3bps) end due to sell-off of the JAN-2026 (+7bps) bond but closed flat at the mid and long segments.

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