One-Year T-Bill Yield Rises to 14.98% Thursday

By Dipo Olowookere

Yield on the one-year treasury bills at the secondary market increased on Thursday by 0.44 percent to settle at 14.98 percent, Business Post reports. This was as a result of renewed selloffs witnessed on the tenor and three other maturities tracked at the market yesterday.

An analysis of the market on Thursday showed that only the one-month treasury bill recorded a decline in its yield, going down by 0.49 percent to finish at 13.03 percent. Yield on the three-month increased by 0.69 percent to close at 11.42 percent, while yield on the six-month maturity rose by 0.21 percent to finish at 13.95 percent.

Business Post reports that at the close of transactions yesterday, the average yields at the secondary market increased by 0.21 percent to settle at 13.35 percent.

Meanwhile, the average money market rates depreciated on Thursday by 5.50 percent to close at 6.83 percent. This came on the back of the 5.57 percent decline suffered by the Open-Buy Back (OBB) rate and the 5.43 percent depreciation recorded by the Overnight (OVN) rate.

At the close of business, the OBB rate settled at 6.29 percent, while the OVN rate went down to 7.36 percent.