The Bond market traded on a bullish note, with yields trending lower by c.20bps d/d, driven by local client demand especially on the short and medium tenured buckets.
The market witnessed the most demand around the 7-year tenor (2024s/2025s) which contracted by c.25bps, down to c.13.20% in last trades.
We expect a slight ease in the bullish sentiments as demand from Wednesday’s bond maturity inflows thin out.
Meanwhile, Treasury bills market traded on a slightly bullish note, with demand skewed to the shorter end of the curve, as system liquidity remained significantly buoyant following inflows from N300bn bond maturity.
TheSovereigns bond lost some ground gained in previous sessions, as investors sold off slightly especially on the longer end the curve.
The Nigeria Corps were also a tad lower, except for marginal gains recorded on the FBNNLs, ECOTRA 21s and UBANNL 22s.
