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Treasury Bills In Nigeria - Investment (11) - Nairaland

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Re: Treasury Bills In Nigeria by feelamong(m): 11:04am On Aug 24, 2012
Ojix85:

Well, i hit the stop rate of 14% sharp, for 91days... Thanks a lot for the encouragement.

Hmmmmm.......lets just hope that there wont be any Pro rating for the 'large number' of bids with 14%! undecided
Re: Treasury Bills In Nigeria by employer22: 11:22am On Aug 24, 2012
For persons with average means. http:///O8adUz.
Re: Treasury Bills In Nigeria by feelamong(m): 4:29pm On Aug 24, 2012
feelamong:

Hmmmmm.......lets just hope that there wont be any Pro rating for the 'large number' of bids with 14%! undecided

http://af.reuters.com/article/nigeriaNews/idAFL6E8JO6OV20120824

LAGOS Aug 24 (Reuters) - Nigeria sold 20 billion less than planned at a bi-monthly sale of treasury bills on Thursday but the yields on its 3-month bills fell, with dealers citing large purchases by foreign players.

The central bank sold just 50.65 billion naira ($321 mln) in 3- and 6-month bills compared to plans announced last week for an auction of up to 70.65 billion naira.

Dealers said the bank had rejected bids that were higher than it was prepared to pay for short-dated papers, pushing yields down to 14 percent from 14.5 percent at a previous sale two weeks ago.

That pointed to pent-up demand for the currency from foreign players, and the naira firmed to 157.80 at 1102 GMT against the U.S. dollar on the interbank market, recovering from a low of 158.10 naira where it closed the previous day.

The bank auctioned 20 billion naira of 182-day paper at a yield of 15.08 percent, compared with 15.30 percent it sold on Aug.9.

Nigeria issues treasury bills twice-monthly to reduce the money supply, curb inflation and help lenders manage their liquidity.

Total subscriptions for the bills were 136.91 billion naira. ($1 = 157.95 naira) (Reporting by Oludare Mayowa; Editing by Chijioke Ohuocha and Patrick Graham)
Re: Treasury Bills In Nigeria by feelamong(m): 3:58pm On Aug 28, 2012
The next Tbills Auction is scheduled for the 6th of Sept 2012.

Just wondering what the rates will look like.....most fund managers seem to agree that we will likely be seeing a slight drop in the rates!

The next three days will defitnitely give us more clue on the direction of the market!
Re: Treasury Bills In Nigeria by feelamong(m): 1:22pm On Aug 29, 2012
feelamong: The next Tbills Auction is scheduled for the 6th of Sept 2012.

Just wondering what the rates will look like.....most fund managers seem to agree that we will likely be seeing a slight drop in the rates!

The next three days will defitnitely give us more clue on the direction of the market!

http://af.reuters.com/article/nigeriaNews/idAFL6E8JTAQJ20120829

LAGOS Aug 29 (Reuters) - Nigeria plans to issue 142.97 billion naira ($903.73 mln) in treasury bills ranging from 3-month to 1-year maturities at its regular twice-monthly auction on Sept. 6, the central bank said on Wednesday.

The bank said it will raise 32.97 billion naira in 91-day notes, 50 billion naira in 182-day bills and 60 billion naira in the 264-day paper.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity. ($1 = 158.20 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)
Re: Treasury Bills In Nigeria by coolguyz(m): 8:26am On Sep 04, 2012
There will be primary auction for Treasury Bills on Wednesday, 05-September-12 (settlement - 6th September 2012) with details as follows;


91 days tenor with maturity date of 06-Dec-12 - N32.97 billion
182 days tenor with maturity date of 07-Mar-13 - N50.00 billion
364 days tenor with maturity date of 05-Sep-13 - N60.00 billion


The 91-day and 182-day bills are trading in the secondary market at 13.50% (offer) and 13.85%(offer) respectively.

Yields have continued to drop over the past week as a result of an increase in demand for bills. The drop of averaged of 150 bps(1.50%). This has been attributed to the high level of liquidity in the system despite the attempts by CBN to mop up the excess liquidity through OMO auctions. Yields at this auction are not expected to close as high as the previous two auctions
Re: Treasury Bills In Nigeria by coolguyz(m): 8:30am On Sep 04, 2012
The expectations as per rates at the auction are:

91 days: 13.35% - 14.10%

182 days: 13.95% - 14.80%

364 days: 14.55% - 15.00%

Note: These are not CBN official rates!
Re: Treasury Bills In Nigeria by coolguyz(m): 8:45am On Sep 06, 2012
Below are the stop rates for the treasury bills auction held on 05-Sep-2012;


91 days 13.64%
182 days 13.80%
364 days 13.8726%

Yields have really dropped on all maturities even the long dated TBills.
Re: Treasury Bills In Nigeria by buJu234: 8:50am On Sep 06, 2012
@ coolguyz

whats ur source? am still looking for the source?

any way ; thank God i bidded for 13.5% for 91days
Re: Treasury Bills In Nigeria by feelamong(m): 9:29am On Sep 06, 2012
coolguyz: Below are the stop rates for the treasury bills auction held on 05-Sep-2012;


91 days 13.64%
182 days 13.80%
364 days 13.8726%

Yields have really dropped on all maturities even the long dated TBills.

Good one!!! just as expecetd!! I actually bidded 13.5%

The long dated ones will for now be witnessing lower yields! with the expectant listing of FGN Bonds in JP Morgan Index by October, I suspect that many foreign investors are already trying to lock in long term Tbills cos they expect the yields to drop more as more investors become more aware of our cheap Bonds/Tbills.

At this rate if the yields drop further, am off to the NSE to pick up the bargains am seeing there now!
Re: Treasury Bills In Nigeria by feelamong(m): 9:36am On Sep 06, 2012
buJu-234:
@ coolguyz

whats ur source? am still looking for the source?

any way ; thank God i bidded for 13.5% for 91days

You cant get any source here! the rates aare as stated by Coolguyz. My bankers confirmed this to me last nite!
Re: Treasury Bills In Nigeria by issehfresh(f): 10:25am On Sep 06, 2012
Hello@feeling,
pls, what guy does ur Tbills 4 you? 'hope you would n't mind linking me up.tnx!
Re: Treasury Bills In Nigeria by feelamong(m): 10:37am On Sep 06, 2012
issehfresh: Hello@feeling,
pls, what guy does ur Tbills 4 you? 'hope you would n't mind linking me up.tnx!

just send me a mail and I will send his contact details to you. feelamong@gmail.com
Re: Treasury Bills In Nigeria by lotannam: 3:04pm On Sep 06, 2012
Please can someone tell me the date for the next auction
Re: Treasury Bills In Nigeria by mymadam(m): 5:24pm On Sep 06, 2012
lotannam: Please can someone tell me the date for the next auction

Yes, Thursday, September 20, 2012 (DV). God bless Nigeria.
Re: Treasury Bills In Nigeria by coolguyz(m): 10:03am On Sep 07, 2012
buJu-234:
@ coolguyz

whats ur source? am still looking for the source?

any way ; thank God i bidded for 13.5% for 91days

Central Bank of Nigeria grin
Re: Treasury Bills In Nigeria by Nobody: 10:07am On Sep 07, 2012
Yep, confirmed. 13.64% for 91 days. My fund managers bid was 13.60%. Amazing!
Re: Treasury Bills In Nigeria by FunmyKemmy(f): 1:49pm On Sep 07, 2012
I am in Ibadan. How can I be part of this? Kindly link me up please.
Re: Treasury Bills In Nigeria by feelamong(m): 3:45pm On Sep 07, 2012
Fortissimo: Yep, confirmed. 13.64% for 91 days. My fund managers bid was 13.60%. Amazing!

This ur fund manager na winch!!! grin[

he as clearly on the spot! Enjoy!!
Re: Treasury Bills In Nigeria by feelamong(m): 3:46pm On Sep 07, 2012
FunmyKemmy: I am in Ibadan. How can I be part of this? Kindly link me up please.

Walk into any bank there in Ibadan and ask them abt Tbills. If they cannot help u let us know ASAP.
Re: Treasury Bills In Nigeria by jamace(m): 5:48pm On Sep 08, 2012
Good biz.
Re: Treasury Bills In Nigeria by Nobody: 6:03pm On Sep 08, 2012
feelamong:

This ur fund manager na winch!!! grin[

he as clearly on the spot! Enjoy!!

I tell ya! Wish I had more to invest
Re: Treasury Bills In Nigeria by wura2020: 10:43pm On Sep 08, 2012
Please how is the interest on 91 days TB calculated? The interest posted to me does not agree with my own calculation.
Re: Treasury Bills In Nigeria by Nettuno: 7:07pm On Sep 09, 2012
@feelamong, I sent you a mail over a week now for some information on TB, but am yet to hear from you. Pls reach me on Larrychuksg@yahoo.com.
Re: Treasury Bills In Nigeria by feelamong(m): 7:59am On Sep 10, 2012
wura2020: Please how is the interest on 91 days TB calculated? The interest posted to me does not agree with my own calculation.

Just do the layman simple interest calculation for the funds you have. It gives you the interest you will get if you are to pick your interes upfront!
Re: Treasury Bills In Nigeria by feelamong(m): 8:01am On Sep 10, 2012
Nettuno: @feelamong, I sent you a mail over a week now for some information on TB, but am yet to hear from you. Pls reach me on Larrychuksg@yahoo.com.

I don reply u!!
Re: Treasury Bills In Nigeria by coolguyz(m): 9:41am On Sep 10, 2012
wura2020: Please how is the interest on 91 days TB calculated? The interest posted to me does not agree with my own calculation.

In addition to feelamong's response. use your bid interest you quoted in computation and not the final stop rates. |I guess that's where the contrasting difference is coming from.

All the best!
Re: Treasury Bills In Nigeria by coolguyz(m): 9:46am On Sep 10, 2012
Another point to share is that following announcement in the middle of the month of August 2012 that JP Morgan index will be listing FGN Bonds in its index by October 2012, there was significant increase in demand for bonds especially from foreign investors with preference for the long dated maturities. This renewed demand forced yields down as prices on maturities of those bonds trading rose steadily.

Note that for a while now, the yield on bonds have been high and prices trading at low levels which had made the secondary trading activities on the bond's very dull as most of the banks are sitting on negative mark to market positions on these bonds and have moved significant portions to theri Held To Maturity portfolio.

It is believed that we may witness further decline in yields if these renewed demands level continue as it also pave more options on raising funds for the government. This will surely impact on TBills yield.
Re: Treasury Bills In Nigeria by feelamong(m): 9:45am On Sep 11, 2012
coolguyz: Another point to share is that following announcement in the middle of the month of August 2012 that JP Morgan index will be listing FGN Bonds in its index by October 2012, there was significant increase in demand for bonds especially from foreign investors with preference for the long dated maturities. This renewed demand forced yields down as prices on maturities of those bonds trading rose steadily.

Note that for a while now, the yield on bonds have been high and prices trading at low levels which had made the secondary trading activities on the bond's very dull as most of the banks are sitting on negative mark to market positions on these bonds and have moved significant portions to theri Held To Maturity portfolio.

It is believed that we may witness further decline in yields if these renewed demands level continue as it also pave more options on raising funds for the government. This will surely impact on TBills yield.

So we expect the yields on the Tbills to drop further abi? but do you think they will drop below the Inflation rate of 12.8%?

Cos once the yields on Tbills drop below that rate, it will no longer make sence purchasing the bills!!
undecided
Re: Treasury Bills In Nigeria by FunmyKemmy(f): 10:10pm On Sep 11, 2012
Thanks feelamong. The bank officer is not cooperating.
Re: Treasury Bills In Nigeria by feelamong(m): 9:24am On Sep 12, 2012
FunmyKemmy: Thanks feelamong. The bank officer is not cooperating.

Just hit me up on my email and i will introduce you to my account officer. I think they have a branch of their investment bank there in Ibadan.

(Feelamong@gmail.com)
Re: Treasury Bills In Nigeria by FunmyKemmy(f): 4:03am On Sep 14, 2012
@ feelamong

I sent you a mail. Kindly respond.

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