Average Bond Yield Closes at 13.54%

• Average Bond Yield Closes at 13.54%

The average bond yield advanced marginally by 0.01 per cent on Tuesday, to close at 13.54 per cent.

The yields on the June-2019, October-2019, and the March-2036 instruments dropped by 0.03 per cent, 0.02 per cent, and 0.05 per cent, respectively. However, yields on the May-2018 and March-2024 instruments inched upwards, appreciating respectively by 0.12 per cent and 0.06 per cent..

Buying pressure dominated the secondary market for Treasury bills, as the average yield declined slightly by 0.01 per cent, to settle at 14.54 per cent. The one-month, three-month and nine-month tenors recorded yield declines of 0.13 per cent, 0.15 per cent and 0.06 per cent, respectively while yields on the six-month and 12-month tenors trended upwards by 0.06 per cent and 0.21 per cent, respectively.

The open buy-back and overnight rates recorded respective increases of 7.5 per cent and 7.25 per cent. Consequently, the average money market rate settled higher at 31.13 per cent at the close of Tuesday’s trading session.

The naira traded flat at both the interbank and parallel foreign exchange markets, closing at N362/dollar and N305.75/dollar, respectively, Meristem Assets Management data showed.