Nigeria Treasury Bills Yield Shrinks 2bps to 25.6%

Nigeria Treasury Bills Yield Shrinks 2bps to 25.6%

The average yield on Nigerian Treasury bill shrank by 2 basis points to 25.6% in the secondary market due to selling rally.  Banks have been offloading their interest in money market instruments on the back of tight liquidity in the financial system.

The Treasury Bills market saw a bearish theme in the mid-to-long end of the yield curve, traders said in separate notes.  AIICO Capital Limited told investors that offers were primarily observed for the May, October, November, and December 2025 securities, with very little demand to match.

However, a few trades were executed as some traders aimed for attractive pricing levels.  The trades that were consummated in the market were predominantly by sellers who sought to raise liquidity.

Notably, the 20-Nov and 11-Dec bills were quoted at 22.80/22.35 and 22.75/22.30, respectively, TrustBanc Financial Group said in a note.  Fixed income market analysts said they expect prevailing market conditions to persist in the coming sessions.

The Nigerian Interbank Treasury Bills True Yield (NITTY) showed mixed trends across all maturities, as the average secondary market yield on Treasury bills eased by 0.02% to 25.62%.

Across the curve, the average yield declined at the short (-2bps), mid (-2bps) and long (-2bps) segments.

The yield contracted as a result of demand for the 84-day to maturity (-2bps), 168-day to maturity (-2bps) and 336-day to maturity (-2bps) bills, respectively, according to Cordros Capital Limited.

In contrast, the average yield expanded by 7 basis points to 27.3% in the OMO bills segment. # Nigeria Treasury Bills Yield Shrinks 2bps to 25.6%. #Nigeria Treasury Bills Yield Shrinks 2bps to 25.6%#

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