Finance
Average Bond Yield Settles at 18-month Low
- Average Bond Yield Settles at 18-month Low
Positive sentiments prevailed in the Treasury bonds space on Thursday as the average yield on bonds declined by 0.03 per cent to close at 13.34 per cent.
The yield on all the tenors trended downwards except for the February-2020, January-2026, March-2024, and the May-2018, which advanced by 0.03 per cent, 0.02 per cent, 0.04 per cent, and 0.17 per cent, respectively.
The mood was similar in the secondary market for Treasury bills as the average yield declined by 0.01 per cent to close at 14.15 per cent. The yields on all the tenors declined, save for the three-month tenor which advanced by 0.42 per cent to close at 12.82 per cent.
The open buy-back and overnight rates declined by 0.92 per cent and 0.75 per cent, respectively, to settle at 5.25 per cent and 5.75 per cent. Consequently, the average money settled lower at 5.50 per cent.
The naira, according to Meristem data, traded flat against the dollar at both the parallel and Interbank FX markets on Thursday to close at 305.75 and N364, respectively.