THERE are expectations that stop rates will decline marginally amid fresh liquidity boost from the maturing bills and the bias of the Central Bank of Nigeria (CBN) for an expansionary policy.
Recall that the Monetary Policy Committee (MPC), at the end of its Monday, March 21, 2022 meeting, still signalled the need to continue to support the fiscal authority to grow the economy – having decided to hold all parameters constant.
Meanwhile, in the new week, Treasury-bills worth N153.29 billion would mature via the primary and secondary markets to marginally exceed T-bills worth N143.29 billion which would mature via the primary market; viz: 91-day bills worth N2.49 billion, 182-day bills worth N2.09 billion and 364-day bills worth N138.71 billion.
Also, dealers expect to see bearish activity in the FGN bond space as investors look the way of high-yielding Eurobonds which crossed 10 per cent level.
and then