Finance
Selling Pressures Hit Debt Market
- Selling Pressures Hit Debt Market
Trading activities in the Treasury bills space was quite bearish, as the average Treasury bills yield advanced by 0.18 per cent to close at 15.21 per cent. The yields on the one-month, three-month, and 12-month instruments rose by 0.06 per cent, 0.95 per cent and 0.04 per cent, respectively.
However, yields on the six-month and nine-month tenors recorded respective yield declines of 0.09 per cent and 0.04 per cent.
In the Treasury bonds space, the average bond yield advanced by 0.04 per cent. The yields on 11 instruments closed higher, while two instruments recorded a drop in yields.
The average money market rate advanced by 7.09 per cent to settle at 25.92 per cent, as both the open buy-back and overnight rates advanced by seven per cent and 7.17 per cent,respectively.
The naira, Meristem Wealth data said, traded flat at the parallel foreign exchange market to close at N363/dollar while the currency depreciated marginally by 0.02 per cent at the Interbank FX market to close at N306/dollar.