Rates to moderate on N131.48bn maturities

THERE are expectations that rates in the money market will moderate in the new week following Treasury-bills worth N131.48 billion which will mature via the primary and secondary markets.

Dealers from Cowry Assets Management Limited said the maturities will exceed Treasury Bills worth N51.48 billion which will be auctioned by the Central Bank of Nigeria (CBN) via the primary market: viz: 91-day bills worth N8.43 billion, 182-day bills worth N16.05 billion and 364-day bills worth N27.00 billion.

Cowry Research analysts expect the stop rates of the new issuances to moderate amid sustained demand by investors.

Also, in the new week, “we expect yields to further moderate as local over the counter (OTC) bond prices increase as the appreciating Naira and slowing inflation rate signal buy opportunities,” they stressed.

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