The 91-day tenor has a last stop rate of 10.90 percent and is expected to have a stop rate between 10.50 percent and 10.99 percent at the end of the week.
The report by Nigeria’s Punch newspaper on Tuesday said that 182-day tenor, which has a last stop rate of 13.01 percent, is expected to close at a rate between 12.95 percent and 13.20 percent.
It added that the 364-day tenor had a last stop rate of 14.37 percent and an expected stop rate range of 13.50 percent and 13.90 percent.
According to the report, the bullish sentiment in the Treasury bills secondary market was reversed last week (after two weeks) as the apex bank increased its frequency of liquidity controls through the Open Market Operation auctions, albeit offering only short-tenor and mid-tenor bills.
Consequently, the average yield across tenors advanced by 51 basis points week-on-week to 13.5 percent from the 13 percent recorded in the previous week.
Accordingly, the short-term and medium-term instruments increased by 101bps and 135bps week-on-week, respectively, following sell-offs as investors took a position in bills offering higher yields at the OMO auctions.
The long-term bills also advanced marginally by six basis points week-on-week, despite sustained demand witnessed for the most part of the week.
The CBN offered a total of N900bn at the OMO auctions, which were conducted on all trading sessions last week except Wednesday, and successfully mopped up approximately N809bn out of a 1.1x over-subscription of N945.3bn.
The medium-term bill had more interest as N800.8bn was subscribed against the N570bn offered.
On the other hand, the short-term bill received mild attention with a total of N144.5bn subscription against the N330bn offered, depicting a 0.4x ratio. ($1=N305)