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Morocco: The Treasury achieves 85% of the needs announced in April

26/04/2021
Categories: Economy/Forex

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The weekly note from Attijari Global Research (AGR), "Weekly Hebdo Rates - Fixed Income" indicates that, in the week from April 16 to 22, the Treasury achieved 85% of its needs initially announced in April on the bond market .

The treasurer of the State subscribes on the domestic market 2 billion dirhams, faced with a demand from investors which exceeds 7 billion dirhams. "At the end of April, the Treasury achieved 85% of its monthly need announced at the beginning of the month, ie a cumulative fundraising of 9.2 billion dirhams (MMDH)", specifies AGR. The satisfaction rate for this last short-term auction session was thus limited to 27.7%.

At the end of this session, the primary yield rate of the only maturity concerned by the exercise fell by 4 basis points (bps) to 1.69%. At the level of the secondary market for treasury bonds (BDT), the evolution of interest rates remains mixed. The 13-week and 5-year maturities lost 1 bp and 4 bp respectively, while the 52-week and 2-year maturities rose by 2 bp and 1 bp respectively.

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