NITTY Rises for All Maturities Tracked


; 12-Month NITTY Hits 17.38%…

At the close of the trading week, CBN auctioned treasury bills worth N150.60 billion in the Primary Market.

Amid high demand for short term seucrities, the stop rates for the 91-day and 182-day auctioned T-bills further moderated to 10.90% (from 10.95%) and 13.10% (from 13.16%) respectively; however, the stop rate for
the 364-day maturity was flattish at 14.45%.

The apex bank also sold N443.76 billion in the secondary market. The total outflows worth N683.23 billion offset the inflows from the matured T-bills worth N594.36 billion.

Consequently, NIBOR rose for all the tenor buckets tracked as the financial
system liquidity squeezed: NIBOR for overnight funds, 1 month, 3 months and 6 months moderated to 16.13% (from 6.29%), 13.94% (from 12.09%), 14.21% (from 13.88%) and 14.81% (from 14.44%) respectively.

Meanwhile, NITTY rose for all maturities tracked as FPIs continued to sell down their investment: yields on 1 month, 3 months, 6 months and 12 months increased to 13.51% (from 11.52%), 13.45% (from 13.41%), 14.19% (from 13.66%) and 17.38% (from 16.73%) respectively

In the new week, T-bills worth N684.84 billion will mature via the secondary market. This, along with the effect
of N788.14 billion federally collected revenue distributed by FAAC, is expected boost financial system liquidty
and result in a corresponding downward trend in NIBO

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