Friday, September 24, 2021

    NITTY Rises for Most Maturities Tracked amid Sell Pressure…

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    Naija247news Editorial Team
    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, we witnessed an upward repricing of yields at the shorter end of the curve amid investors’ sell-off given the short-term liquidity constraint.

    NITTY for 1 month, 2 months and 6 months expanded to 3.35% (from 2.92%), 4.15% (from 3.98%) and 5.58% (from 5.33%) respectively.

    On the other hand, NITTY for 12 months moderated to 8.72% (from 8.90%) as traders demanded for this maturity.

    Elsewhere, given the matured OMO bills worth N30.00 billion, NIBOR fell for most tenor buckets amid financial system liquidity ease.

    Specifically, NIBOR for 1 month, 3 months and 6 months moderated to 10.82% (from 11.98%), 11.89% (from 12.94%), and 13.30% (from 14.32%) respectively.

    However, overnight funds rate increased to 12% (from 5.47%).

    new week, T-bills worth N233.02 billion will mature via the primary and secondary markets to more than offset the T-bills worth N216.18 billion which will be auctioned by CBN via the primary market; viz: 91-day bills worth N7.19 billion, 182-day bills worth N47.47 billion and 364-day bills worth N161.52 billion.

    We expect the stop rates of the new issuances to moderate amid expected boost in financial system liquidity.

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