Saturday, December 4, 2021
More

    NITTY Briefly Touches Negative Zone Mid-Week…

    Must read

    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    In the just concluded week, NITTY continued its southward trek – and briefly fell in the negative zone for most maturities – amid sustained demand for short term treasury bills.

    Yields for 1 month, 3 months, 6 months and 12 months maturities fell to 0.01% (from 0.21%), 0.06% (from 0.49%), 0.14% (from 0.38%) and 0.15% (from 0.24%) respectively.

    Meanwhile, treasury bills worth N269.43 billion which matured via the
    Open Market Operation (OMO), as against the N70 billion worth of auctioned OMO bills, resulted in a financial system liquidity ease – in the absence of auction of T-bills at the primary market.

    Hence, we saw a boost in the financial system liquidity and a resultant drop in NIBOR for most tenor buckets.

    NIBOR for 1 month, 3 months and 6 months plummeted to 0.33% (from 0.50%), 0.79% (from 0.93%) and 0.56% (from 1.71%) respectively.

    However, NIBOR for overnight funds rose to 2.50% (from 1.00%). NGN 500.00 NGN 470.00 NGN 440.00 NGN 410.00 NGN 380.00 NGN 350.00

    In the new week, T-bills worth N273.65 billion will mature via the primary which will be than offset T-bills worth N150.59 billion to be auctioned via the primary market; viz: 91-day bills worth N20.37 billion, 182-day bills worth N19.15 billion and 364-day bills worth N111.07 billion.

    Hence, we expect the stop rates of the issuances to further decline furthe amid sustained demand.

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By : XYZScripts.com
    %d bloggers like this: