30-Day T-Bills Yield Jumps 0.13% to 11.16%

By Modupe Gbadeyanka

Yields on the 30-day treasury bills rose on Tuesday by 0.13 percent to settle at 11.16 percent at the close of business.

The yield recorded the increase yesterday despite the secondary market for the debt instrument closing bullish.

Business Post reports that the average yields of T-bills slightly depreciated on Tuesday by 0.05 percent to 12.42 percent.

At the end of transactions yesterday, the 90-day tenor depreciated by 0.05 percent to finish at 11.92 percent, the 180-day maturity went down by 0.23 percent to settle at 12.68 percent, while the 364-day bill declined by 0.05 percent to close at 13.93 percent.

An analysis of the money market on Tuesday indicated that the average rate depreciated by 3.39 percent to settle at 9.11 percent.

This came on the back of the 3.21 percent decline recorded by the overnight rate yesterday to finish at 9.50 percent and the 3.57 percent cut posted by the Open Buy Back rate to close at 8.71 percent.

Tomorrow, the Central Bank of Nigeria (CBN) is expected to offer treasury bills for sale to investors via the primary market auction.