Secondary Bond market yields spike as activity increases

YIELDS in the secondary Bond market moved sharply higher yesterday, reacting to the outcome of the Treasury Bill auction held the previous day.

- BY WEALTH TRUST SECURITIES

The auction recorded increases in weighted average rates across all three maturities, with the 364-day tenor rising by a notable 16 basis points. Market activity was seen picking up with healthy volumes transacted.In terms of the secondary Bond market trade summary, the 15.09.27 maturity was seen trading within the range of 9.05%-9.06%. The 15.02.28 and 15.03.28 maturities were seen trading at highs of 9.15% each while the 01.07.28 maturity at a high of 9.20%. The 15.10.28 maturity traded at the rates of 9.20%-9.23%. The 15.09.29, 15.10.29 and 15.12.29 maturities traded up the range of 9.75%, 9.80% and 9.85% respectively against its previous day’s closing levels