Proshare - Facebook Proshare - Twitter Proshare - Google+ Proshare - Linked In Proshare - RSS Feed

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

Proshare

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


Related News

1.       Frequently Asked Questions (FAQs) on Investment in Government T-Bills

2.      Scope for the DMO to pick and choose

3.      Stanbic IBTC Launches 20.00bn Commercial Paper Programme on FMDQ

4.      Summary of Auction Results for May 2017

5.      Diaspora Bonds - A Financing Option for Nigeria

6.      DMO offers Higher Interest Rates for the 2-Year & 3-Year FGN Savings Bond at 13.189% and 14.189%

7.      Invest in FGN Monthly Bond Auction – May 2017

8.     Summary of Auction Results for April 2017

9.      Invest in FGN Monthly Bond Auction – April 2017

10.  Vetiva-Proshare Tweet Meet: FGN Savings Bond, considered risk free-Folagbade Adeyemi

READ MORE:
Related News