Primary market rates stabilized during the week of March 3-9, according to Attijari Global Research (AGR).
Indeed, the Treasury’s financing conditions on the domestic market remain favorable following the Treasury’s latest exit abroad, indicates AGR in its recent note “Weekly Hebdo Rates – Fixed income”. For its part, the 20-year secondary maturity shows a significant increase exceeding 30 basis points, notes AGR.
Regarding the characteristics of this 2nd auction session in March, the Treasury’s subscription does not exceed 3 billion DH in the face of a demand from investors of 7.1 billion DH, i.e. a satisfaction rate of 42%, adds AGR. To this end, the cumulative fundraising to date for the month of March stands at 4.8 billion dirhams in the face of a financing need that has not yet been announced.