NITTY Rises for All Tenor Buckets on Financial Liquidity Strain…

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In the just concluded week, the Treasury Bills
primary market was quiet as there were no T-
bills offer from the apex bank.

Despite the zero maturities, we saw NITTY rise for all maturities tracked.

Specifically, NITTY rose for Overnight,
1 month, 3 months, 6 months and 12months
maturities to 3.73% (from 3.15%), 4.26%
(from 3.55%), 4.97% (from 4.07%) and 6.49%
(from 5.85%) respectively.

Meanwhile, in the OMO space there was neither maturity nor refinancing hence, reducing financial system liquidiity which drove NIBOR higher for most tenor buckets.

1 month, 3 months, 6 Months and 12 Months tenor buckets roseto 14.20% (from 11.00%), 11.12% (from 9.43%), 12.33% (from 11.13%) and 13.16% (from 11.40%) respectively.