₦airaland Forum

feelamong:
For treasury Bills auction..you are served based on the bid discount rate you quoted!

18.40% was the stop rate so any one that bids below that would be served based on their rates..

as for those that bidded above they are on their own..

while those that bidder at exactly that rate would have to wait to see that they have not been prorated based on the no of winning bids at that rate..

thanks

I have just been informed that my bid was successful @17.75% for 364 days. @GTB
Please,I need some clarifications, am a first timer. The result of the auction for yesterday was 18.40% for 364 days ,wondering why i got 17.75%.
Thanks in advance.

GTB 364 17.75%

The Nigerian Bureau of Statistics released its July 2016 inflation report today. Please find key highlights below;

· Headline inflation increased to 17.1% in July 2016, from 16.5% in June 2016. The main drivers continue to be the higher cost of imported goods and energy prices.

· The Food sub index increased by 15.8% in July 2016, from 15.3% in June 2016 due to the rise in the cost of imported foods which mitigated the positive impact of the beginning of harvest season.

· Higher energy and energy related prices continue to drive the Core sub index, which constitutes all items less farm produce. The index rose by 16.9% in July 2016, from 16.2% in June 2016. Average PMS and Diesel price paid by households was up +37.6% y/y and +41.9% y/y to N147.7per litre and N206.6per litre in July 2016 respectively.

Implications and Outlook

· The continued rise in inflation, for the ninth consecutive month, will likely be a negative for corporate performances and consumer demand.

· Although market participants in the fixed income space may reprice upward, we expect this to moderate during the day as July inflation was within consensus estimates. However, expectation is that as CBN continues to attract FX inflows, average yields in the market should deliver positive real returns.

· Going forward, we are likely to see upward pressure on price levels driven by FX supply constraints at the interbank market and higher energy prices compared to 2015.

· However, the increase in inflation may be at a slower rate due to the higher base towards the end of 2015 and expectation that harvest season may moderate the rise in the Food sub index.

Hi all,
If I invest in treasury bills through a bank, say for example XYZ Bank.
If XYZ Bank should liquidate or go under. How do I get my money back ?
Thanks

NTB Calendar for #rd Quarter