Finance
Bullish sentiments hit Treasury bills market
- Bullish Sentiments Hit Treasury Bills Market
Bullish sentiments characterised the secondary market for Treasury bills on Monday as the average T-bills yield declined by 0.10 per cent to close at 17.05 per cent.
All tenors witnessed yield declines save for the six-month tenor which recorded yield advancement of 0.11 per cent at the close of trades.
The one-month, three-month, nine-month and 12-month tenors declined respectively by 0.49 per cent, 0.01 per cent, 0.07 per cent and 0.03 per cent.
At the close of trades, the average money market rate advanced by 2.21 per cent to settle at 33.92 per cent, following advancements of 2.75 per cent and 1.67 per cent in the overnight and open buy-back rates, respectively, Meristem Securities reported.
Activities in the Treasury bonds space were largely muted as five instruments recorded yield declines, ten instruments traded flat while only one instrument advanced. Consequently, the average bond yield was unchanged at 14.92 per cent.