Nigerian Treasury Bill Yield Dips to 18.18% Ahead of Auction
The average yield on Nigerian Treasury bills (NTB) dipped to 18.18% amidst subdued trading activities in the secondary market ahead of the main auction scheduled for Wednesday.
The naira asset traded more softly on Tuesday, though pockets of transactions were observed as investors planned to optimize their portfolio.
The market anticipates another round of spot rates adjustments across standard tenors, though sentiment remains mixed given a significant cut in OMO rates last week.
Driven by soft demand for treasury bills, the average yield on Nigerian Treasury bills compressed by a basis point to 18.18%, according to CardinalStone.
Traders said trading activities were relatively subdued across all maturities, and this kept rates unchanged along the curve amid balanced demand–supply dynamics.
Trading remained muted across the short, mid, and long segments, with all bills closing unchanged as investors stayed largely on the sidelines, resulting in minimal price action across the market.
The market expects calm trading activity on Wednesday as market participants focus on the Nigerian Treasury bills auction of ₦1.15 trillion across 91-,182-, and 364-day tenors.
