Attijari Global Research (AGR) in its latest "Weekly Rate" note of the week from 19 to 25 February forecasts a continuation of the downward trend in rates during the month of March 2021.

The downward trend in bond yields is expected to continue through March 2021. "Taking into account the resilience of BDT investor demand coupled with moderate Treasury raises in the domestic market, we expect the downward trend in rates to continue in March 2021," indicates AGR in its latest note "Hebdo Rate" of the week from 19 to 25 February current.

The first auction session of March was characterized by a continuation of the downward movement of the primary bond curve, mainly in the long-term compartment, says AGR, noting that the 10-year and 20-year maturities fell by 4 basis points (PBS) and 7 PBS respectively.

AGR analysts point out that the Treasury has subscribed nearly 3 billion dirhams (MMDH). The rates of return for the rest of the primary maturities remained unchanged from last week, adds the same source.