NG Treasury Bills Market Turns Green, Yield Dips
Reflecting an improved investor sentiment, the Nigerian (NG) Treasury bills market turned green, with the average yield declining by 1 bp to 17.66%.
The secondary market saw buying as investors continued to shift funds across the Nigerian financial market, seeking higher yields to optimise their portfolios.
Investors’ interest in the naira curve remains strong as macroeconomic indicators signal a positive outlook for the Nigerian economy. Inflation is anticipated to decline further, with a mixed outlook for interest rates amid geopolitical instability that is expected to affect policy dynamics.
Traders at Meristem Securities reported that each instrument across the curve recorded approximately 1 bp of yield decline. Meanwhile, the Mar-27bills (+9bps and +3bps) saw yield increases.
The FGN bond market closed on a mildly bearish tone, as expansions were observed across the mid (+4bps) segment of the curve, particularly the 33s and 34s. Ultimately, the average yield rose marginally by 1bp to settle at 15.79%. MTN Nigeria Lost N1.02trn over Large Scale Selloffs
