Mixed sentiments prevailed in the secondary market amid moderate trading volumes during the week following a robust bull run during previous sessions. Meanwhile, WAYR at the primary auctions continued to see a decline during the week for the seventh consecutive session.
The secondary market commenced the week with continued buying interest but soon pivoted into a mixed sentiment post T-Bill auction which was held on May15, while interest was centered mostly on mid tenors.
Towards mid week, selling pressure emerged in the market mainly on short to mid tenors. Towards the latter part of the week investors displayed a mixed stance while 03M, 06M and 1 Yr bills dipped over 45bps in line with the declined yields at the T-Bill auction which was held on the May 21 where the 03M bill significantly declined below 9.0%.
– First Capital Research
