By Dipo Olowookere
The secondary market for exchange of treasury bills closed bullish on Wednesday with the corresponding yields tilting south at the close of transactions.
From the maturities tracked by Business Post yesterday, yields fell for the four tenors, leaving the average yields going down by 0.09 percent to settle at 13.33 percent.
This occurred on the absence of an OMO auction by the Central Bank of Nigeria (CBN) as well as the bolstering liquidity in the money market from last week’s statutory disbursements.
At the close of transactions, the one-month treasury bills yield went down by 0.09 percent to settle at 12.39 percent from 12.47 percent, the three-month tenor fell by 0.08 percent to close at 12.67 percent from 12.75 percent, the six-month maturity declined by 0.18 percent to 13.11 percent from 13.29 percent, while the 12-month bill depreciated by 0.01 percent to 15.16 percent from 15.18 percent.
Today, N422 billion worth of OMO bills will be maturing and the apex bank would be expected to float an auction to mop up excess liquidity in the system.