Bearish Sentiments Persist in T-bill Space

• Bearish Sentiments Persist in T-bill Space

Bearish sentiments were sustained across the Treasury bills space, as the average T-bills yield advanced by 0.28 per cent to settle at 14.85 per cent on Wednesday. Yield gains were recorded across all tenors, save for the yield on the one-month tenor, which declined by 0.05 per cent.

The average bond yield also advanced, though marginally, by 0.001 per cent to close at 14.23 per cent.

Most of the instruments in the bond space recorded yield declines, save for the July-2021 and January-2022 instruments which advanced by 0.40 per cent and 0.07 per cent, respectively and the March-2024, January-2026, March-2036 and June-2019, which traded flat.

At the close of Wednesday’s trading session, the open buy-back and overnight money market rates recorded respective declines of 9.83 per cent and 10.25 per cent to settle at 7.67 per cent and 8.42 per cent, accordingly. Consequently, the average money market rate settled lower at 8.05 per cent.