T-Bills Yields Fall to 13.23% After 0.06% Loss Friday

By Dipo Olowookere

The secondary market for treasury bills in Nigeria closed bullish on Friday as traders took interest in debt instrument, mopping up some of the maturities amid liquidity ease.

For most of the tenors tracked by Business Post during the trading session yesterday, yields closed in the red territory, with the six-month maturity posting the heaviest depreciation.

The 180-day bill suffered a 0.08 percent decline in yield on Friday to close at 12.89 percent from 12.96 percent in the previous trading session.

Yield on the 90-day tenor went down by 0.06 percent to 12.61 percent from 12.67 percent, yield on the 30-day maturity fell by 0.05 percent to 12.33 percent from 12.38 percent, while yield on the 364-day tenor depreciated by 0.04 percent to 15.10 percent from 15.15 percent.

Business Post reports that at the close of transactions on Friday, the average treasury bills yields of the four tenors monitored depreciated by 0.06 percent to settle at 13.23 percent.

Meanwhile, transactions at the money market closed strong yesterday, with the average rates going up by 1.94 percent to settle at 8.86 percent.

This came on the back of the 2.00 percent growth recorded by the Open Buy Back (OBB) rate and the 1.86 percent increase posted by the Overnight (OVN) rate.

At the close of business, the OBB rate jumped to 8.43 percent, while the OVN rate appreciated to 9.29 percent.