The bond market traded slightly bearish with continued sell on the longer end of the curve (36s and 37s) taking yields slightly higher by c.2ps on average.
This sentiment is also strengthened by release of the Q3 PMA Calendar on Wednesday, June 6, with the DMO planning to rollover all Maturing bills.
Market players anticipate increased domestic borrowings for funding of the 2018 Budget deficit, which is expected to spur a gradual uptick in yields in the near term.
Meanwhile, the treasury bills market traded on a slightly bullish note with slight demand witnessed from clients in absence of an OMO auction by the Central Bank of Nigeria, CBN.
