Bearish sentiments prevailed in the secondary market for Treasury bills on Tuesday, as yields on all tenors advanced, bringing the average T-bills yield to 14.88 per cent. “We attribute the weak demand in the secondary market for T-bills to investors’ preparation ahead of tomorrow’s Primary Market Auction,” analysts at Meristem Securities said in a post. At the close of trades, the open buy-back and overnight rates advanced by 0.84 per cent and one per cent apiece. Consequently, the average money market rate settled at 5.09 per cent. The Central Bank of Nigeria is scheduled to hold a T-Bills PMA today, January 3, 2018. T-Bills worth N127.61bn will mature, while a total amount of N148.86bn will be issued in 91-day, 182-day and 364-day instruments. In the Treasury bonds space, 11 instruments witnessed yield declines, while the yield on three tenors advanced. Despite the significant number of instruments that recorded yield declines, the average bond yield advanced marginally by 0.02 per cent, to settle at 14.09 per cent. In the Interbank foreign exchange market, the naira appreciated by 0.16 per cent to close at N305.50/dollar. However, the currency traded flat in the parallel market to close at N363/dollar. Source: The Punch