By Dipo Olowookere
Yield of the one-month treasury bills depreciated at the secondary market on Thursday by 0.37 percent to settle at 12.77 percent from 13.14 percent it was on Wednesday.
Business Post reports that the decline recorded by the 30-day debt instrument at the market yesterday was as a result of buying interest witnessed during the trading session across the short and mid tenors.
Only the long side of the curve came under selling pressure by investors, resulting in the slight 0.03 percent growth posted by the 12-month maturity, closing at 15.32 percent against 15.28 percent of the previous session.
At the market yesterday, the 3-month treasury bills printed a 0.13 percent depreciation in yield to close at 13.28 percent in contrast to 13.41 percent of the previous day, while yield on the 6-month tenor went down by 0.16 percent to 14.06 percent from 14.22 percent.
Business Post reports that at the close of transactions at the secondary market on Thursday, the average yields of the T-bills tracked depreciated by 0.16 percent to settle at 13.86 percent.
Meanwhile, the average money market rates yesterday depreciated by 4.40 percent to close at 4.68 percent.
This came on the back of the 4.43 percent loss recorded by the Open buy Back (OBB) rate and the 4.36 percent decline printed by the Overnight (OVN) rate.
Consequently, the OBB rate dropped to 4.21 percent at the close of business, while the OVN rate reduced to 5.15 percent.
However, the rates are anticipated to rise on Friday.
Adedapo Adesanya