Home Money Markets Wrap| Treasury bills yield pars by 1bp to 10.6% Naira gains...

Markets Wrap| Treasury bills yield pars by 1bp to 10.6% Naira gains 0.1% at I&E window and Bonds yield expands by 3bps to 14.3% on bearish trade

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BONDS MARKET
Access Bank Plc

MON, 21 NOV 2022-theGBJournal | Trading activities in the Treasury bills secondary market were mixed, albeit with a bullish tilt, as the average yield pared by 1bp to 10.6%.

Across the curve, the average yield contracted slightly at the short (-1bp), mid (-1bp), and long (-1bp) segments following mild interests in the 80DTM (-1bp), 171DTM (-1bp), and 339DTM (-2bps) bills, respectively. Similarly, the average yield contracted by 1bp to 10.2% in the OMO segment.

The Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 3bps to 14.3%. Across the benchmark curve, the average yield expanded at the short (+10bps) end due to the sell-off of the APR-2023 (+102bps) bond but contracted at the mid (-11bps) and long (-10bps) segments as investors demanded the APR-2029 (-15bps) and MAR-2035 (-40bps) bonds, respectively.

The naira appreciated by 0.1% to NGN445.38/USD at the I&E window.

The overnight lending rate was flat at 16.5%, as the system liquidity settled at a net short position (NGN266.50 billion).

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