Nigerian Treasury Bill Yield Climbs to 22.6%
The average yield on the Nigerian Treasury bill expanded by three (3) basis points (bps) to 22.6% in the secondary, fixed income analysts said in a note.
Across the curve, Cordros Capital Limited said the average yield expanded at the mid (+14bps) segment. The yield expansion occurred due to selloffs of the 161-day to maturity (+79 bps).
On the other hand, the yield declined at the short (-1bp) and long (-2bps) ends due to the demand for the 84-day to maturity (-1bp) and 322-day to maturity (-2bps) bills, respectively.
Also, the average yield declined by 2 basis points to 23.8% in the OMO bills segment. The Treasury bills market started the day with the OMO auction sale of ₦731.14 billion on the 362-day paper at a stop rate of 24.32%, despite the total offer size of ₦500 billion across 3 tenors.
Investors bet huge on the OMO bills, with a total subscription that printed at ₦737.14 billion despite weak liquidity balance in the financial system.
This led to a bearish bias as offers for the short, mid-tenor, and some long-dated papers trended higher. Analysts said the MPC decision would have a muted impact on Treasury yields. #Nigerian Treasury Bill Yield Climbs to 22.6% Jaiz Bank Value Increases by 11.2% to N86 Billion

