T-Bills Yields Flat as Market Rates Rise

By Modupe Gbadeyanka

Treasury bills yields yesterday traded on a flat note at the market as traders participated in the bond auction conducted by the Debt Management Office (DMO).

At the close of business on Wednesday, the yields closed at 14.26 percent, the same rate it traded on Tuesday.

Investors are anticipating the repayment of N131.415 billion worth of maturing Nigerian Treasury Bills (NTBs) today by the government through the debt office.

But due to the bond auction yesterday, Business Post reports that the treasury bills market was quiet.

However, the market is expected to be vibrant today, though the average yields may drop.

Meanwhile, the money market rates increased yesterday at the close of transactions.

Both the overnight and open buy back (OBB) rates recorded marginal growth.

While the overnight rate increased to 3 percent from 2.92 percent, the OBB rate rose to 2.50 percent from 2.33 percent.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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