During the period from May 7 to 12, primary rates on the bond market signed their 5th consecutive week of stability, according to Attijari Global Research (AGR).

Attijari Global Research indicates in its recent note “Weekly Hebdo Rates – Fixed income” that at the end of the auction session, the Treasury raised 4.5 billion dirhams against a demand of around 7 billion dirhams (MMDH). “Consequently, the satisfaction rate for the session stands at 63.4%, one of the highest of the year 2021. The confrontation of Supply/Demand in Treasury bills (BDT) this week did not not had a major impact on the rates of the primary curve”, indicates the same source.

Indeed, only the rate of return on the 5-year maturity advances by 1 basis point (bps). The rest of the primary curve remains stable compared to early April 2021, notes the same source. At the end of this 3rd auction session in May, the cumulative amount of Treasury levies stands at 7.2 billion dirhams. Taking into account the need announced by the Treasury for the month of 10.3 billion dirhams, the remainder to be financed during the next two sessions of the month amounts to 3.1 billion dirhams.