By Dipo Olowookere
The secondary treasury bills market closed bullish on Monday with the corresponding yields facing south at the close of transactions, Business Post reports.
It was observed that yields moved in different directions across the four maturities tracked during trading at the market yesterday.
At the close of business, yields on two tenors of the treasury bills ended in the green zone, while the two others settled in the red territory.
Business Post reports that yield on the one-month bill depreciated by 0.48 percent yesterday to finish at 14.17 percent, while the yield on the 3-month instrument declined by 0.52 percent to close at 13.50 percent.
However, for the 6-month maturity, its yield went up by 0.08 percent to end at 15.19 percent, while the yield on the 12-month tenor rose by 0.38 percent to close at 14.91 percent.
On the average, the yields on the four maturities tracked yesterday at the market depreciated by 0.14 percent to settle at 14.44 percent.
Meanwhile, the average money market rates depreciated on Monday by 2.09 percent to settle at 13.04 percent.
This came on the back of the 5.14 decline recorded by the Open Buy Back (OBB) rate and the 5.29 percent depreciation suffered by the Overnight (OVN) rate.
At the end of transactions yesterday, the OBB rate closed at 12.57 percent, while the OVN rate finish at 13.50 percent on sustained liquidity ease resulting from the disbursement of FAAC worth N769.52 billion and in anticipation of maturing T-bills this week.
Modupe Gbadeyanka 
Adedapo Adesanya