Anticipated Rise in Rates - PMA Expected Stop Rates and Secondary Market Indicative Rates

Tuesday, May 30, 2017 / 7:05 PM /Afrinvest Research

Last week, average T-bills rates declined on all trading sessions and trended southwards to settle at 18.9% on Friday, down 0.4% W-o-W as investors showed more interest in short term maturities.

We expect rates to trend slightly downwards at the start of this week on the back of a scheduled N23.6bn OMO maturity hitting the system.

Later in the week, T-bills rates are likely to inch up as the Apex Bank continues its FX interventions as well as OMO mop-ups.

Please see below the indicative rates and tenors for the Nigerian Treasury Bills, in the Secondary Market:
 

 
The CBN will conduct a Primary Market Auction tomorrow. Please, see below our expected stop rates for tomorrow’s Primary Market Auction.

For further details, contact Afrinvest via this email brokerageteam@afrinvest.com

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