Investors Anticipate N314b Maturing T-Bills

July 9, 2018
Investors Anticipate N314b Maturing T-Bills

By Dipo Olowookere

Treasury bills worth N313.6 billion are expected to maturing this week via the secondary market.

This, according to analysts at Cowry Asset, is anticipated to bring about sustained liquidity ease with resultant moderation in interbank rates.

Last week, the Central Bank of Nigeria (CBN) auctioned treasury bills worth N102.31billion via the Primary Market.

The stop rates for the auctioned T-bills moved in mixed directions across the tenor buckets: the 91-day stop rate moderated to 10 percent from 10.20 percent while 182-day stop rate was flat at 10.50 percent.

However, the 364-day bill stop rate rose to 11.51 percent from 11.50 percent. The outflows were offset by N409.15 billion in matured T-bills during the week.

Hence, NIBOR for 1 month and 3 months tenor buckets declined w-o-w to 13.79 percent from 14.46 percent and 14.76 percent from 15 percent respectively amid renewed financial liquidity ease; however, NIBOR for overnight and 6 months tenor buckets increased w-o-w to 16.06 percent from 14.7 percent and 16.84 percent from 16.28 percent respectively.

Elsewhere, NITTY moderated for most maturities tracked amid renewed bullish activity: yields on the 1 month, 3 months and 6 months maturities rose to 12.07 percent from 12.73 percent, 11.39 percent from 12.76 percent and 12.65 percent from 13.07 percent respectively; however, yields on the 12 months rose to 13.09 percent from 13.08 percent.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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