Oct 31 (Lagos) - Below are the results from today's Nigerian Treasury Bills Primary Market Auction.
The yield on the 365 day bill is looking very attractive now.
No wonder the stock market sold off 2% today giving up all the gains of last week. There was heavy over subscription in the 364 day bill and no surprises there. This yield can be expected to go higher as elections come closer and liquidity gets tighter.
Auction Date | 31/10/2018 | 31/10/2018 | 31/10/2018 |
Allotment / Issue Date | 01/11/2018 | 01/11/2018 | 01/11/2018 |
Tenor | (91-Day) | (182-Day) | (364-Day) |
Offer Amount (=N=) | 9,541,924,000 | 47,709,615,000 | 88,037,883,000 |
Subscription (=N=) | 7,913,753,000 | 43,522,527,000 | 212,000,523,000 |
Allotment (=N=) | 7,851,744,000 | 43,522,527,000 | 93,915,151,000 |
Range of Bid Rates (%): | 10.7000 – 13.0000 | 12.0000 – 13.4900 | 13.2000 – 15.9900 |
Stop Rates (%): | 10.9752 | 13.4900 | 14.4000
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reporting for easykobo.com on Wednesday, Oct 31 2018 from Lagos, Nigeria