By Dipo Olowookere
The Nigerian Interbank Treasury Bills’ True Yields (NITTY) rose on Tuesday for most maturities tracked at the treasury bill secondary market. This was influenced by renewed sell pressure by investors at the market.
Business Post reports that at the close of business, only the three–months tenor came under buy pressure and this consequently dropped its yield by 0.32 percent to 11.79 percent from 12.12 percent in the previous session.
The one-month T-bill yield increased by 0.12 percent to 11.68 percent from 11.56 percent, the 6-month yield rose by 0.37 percent to 12.99 percent from 12.62 percent, while yield on the 12-month maturity appreciated by 0.06 percent to 15.07 percent from 15.01 percent.
Today, the Central Bank of Nigeria (CBN) is expected to refinance treasury bills worth N158.7 billion via the primary market auction (PMA) and the stop rates are anticipated to rise.
With this in mind, there are strong expectations of cautious trading at the market on Wednesday as investors focus on the PMA yields with expectations for higher stop-rates.
Adedapo Adesanya