Bonds & Fixed Income | |
Bonds & Fixed Income | |
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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:
Maturity |
Tenor |
Rate (%) p.a. |
29-Jun-17 |
30 |
18.00 |
27-Jul-17 |
58 |
17.30 |
17-Aug-17 |
79 |
17.40 |
07-Sep-17 |
100 |
17.90 |
05-Oct-17 |
128 |
18.15 |
28-Dec-17 |
212 |
18.00 |
11-Jan-18 |
232 |
18.10 |
The CBN will conduct a Primary Market Auction tomorrow. Please, see below our expected stop rates for tomorrow’s Primary Market Auction.
Tenor (Days) |
Volume on Offer |
Expected Stop Rates (%) p.a. |
91 |
N26.10bn |
13.40 - 13.60 |
182 |
N11.00bn |
17.00 - 17.20 |
364 |
N80.00bn |
18.40 - 18.70 |
For further details, contact Afrinvest via this email brokerageteam@afrinvest.com
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