Trading activities in the Treasury bills space was largely bearish, as the yields on the one-month, three-month, six-month and 12-month instruments dropped by 1.64 per cent, 0.06 per cent, 0.06 per cent and 0.06 per cent, respectively while the yield on the nine-month instrument dipped by 0.03 per cent. Consequently, the average Treasury bills yield advanced by 0.36 per cent, to settle at 14.59 per cent.
Bearish sentiment also dominated the Treasury bonds market; the average bond yield rose by 0.03 per cent to close at 13.61 per cent.
The yields on five tenors settled higher; the May-2018, October-2019, February-2020, January-2022, and March-2027 instruments recorded yield advancements of 0.42 per cent, 0.02 per cent, 0.09 per cent, 0.02 per cent and 0.01 per cent, respectively. On the other hand, the yield on the June-2019 instrument declined by 0.04 per cent while other instruments traded flat.
System liquidity eased on the back of Open Market Operation sales worth N247.76bn. Consequently, the open buy-back and overnight rates advanced by 22.50 per cent and 21.08 per cent, respectively to settle the average money market rate at 43.79 per cent.
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