Saturday, May 15, 2021

NITTY for 12 Months Maturity Moves Higher ahead of Auctions Next Week…

Must read

Naija247news, Nigeria
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, CBN issued a total of N20.00 billion at the OMO auction for 96- day (N5 billion at 7%), 173-day (N5 billion at 8.50%) and 341-day (N10 billion at 10.10%) to partly drain sytem liquidty given the maturing OMO bills worth N34 billion.

Nevertheless, NIBOR moved in mixed directions across tenor buckets.

While overnight funds and NIBOR for 1 month rose to 13.73% (from 11.67%) and 5.45% (from 5.44%), respectively, NIBOR for 3 months and 6 months tenor buckets fell to 6.93% (from 6.94%) and 8.31%(from 8.51%)

Elsewhere, NITTY continued to move northwards for most maturities amid traders’ sell-offs.

NITTY for 3 months, 6 months and 12 months maturities rose to 2.22% (from 2.21%), 3.78% (from 3.69%) and 7.01% (from 6.01%) respectively. However, NITTY for 1 month fell to 1.82% (from 1.93%).

In the new week, T-bills worth N89.56 billion will mature via the primary and secondary markets to more than offset the T-bills worth N69.56 billion which will be auctioned by CBN via the primary market; viz: 92-day bills worth 15.92 billion, 182-day bills worth N4.50 billion and 364-day bills worth N49.14 billion.

We expect the stop rates of the new issuances to marginally increase.

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article

WP to LinkedIn Auto Publish Powered By :