By Dipo Olowookere
Yields of treasury bills at the secondary market in Nigeria moved in different directions for most of the maturities monitored during Friday’s trading session.
Business Post reports traders yesterday were cautious at the market as they chew outcome of the previous day’s OMO sale by the Central Bank of Nigeria (CBN), while they kept an eye on the Monetary Policy Committee (MPC) meeting of the apex bank, where the benchmark interest rate was kept unchanged at 13.5 percent despite the inflation rate easing to 11.02 percent in August 2019, according to data released by the National Bureau of Statistics (NBS) on Tuesday.
At the close of business on Friday, the average yields of treasury bills at the secondary market settled at 13.26 percent after appreciating by 0.02 percent.
Of the four tenors tracked yesterday, yields of two of the maturities closed positive, while the two others ended negative.
Yield on the one-month instrument appreciated by 0.22 percent to close at 12.50 percent against 12.28 percent it finished in the previous trading day.
In the same vein, yield on the six-month debt instrument went up by 0.17 percent to settle at 13.29 percent in contrast to 13.12 percent it closed on Thursday.
However, yield on the three-month tenor fell on Friday by 0.21 percent to close at 12.03 percent compared with 12.24 percent it previously ended, while yield on the 12-month maturity declined by 0.10 percent to finish at 15.21 percent versus 15.30 percent it settled in the previous session.
Adedapo Adesanya