Attijari Global Research (AGR) announced in its weekly note "Weekly Hebdo Rate - Fixed Income" that the Treasury has met 77% of its needs initially announced in March in the public debt bond market.

According to the AGR, " the cumulative monthly raise amounts to 10.2 billion dirhams (MMDH) against an announced financing need of 13.3 billion dirhams over the same period ".
The last auction session in March was characterized by a slight decline in short-term rates on the primary curve. To this end, the yield on the 13-week maturity fell by 3.0 basis points in one week.
Investor demand stood at 3.4 billion dirhams against a Treasury subscription of 1.5 billion dirhams, a satisfaction rate of 44%. Taking into account the Treasury's moderate use of the domestic market justified by a comfortable public finance situation and the still high demand from BDT investors, AGR anticipates the continuation of the downward trend in primary bond yields during Q2-2021.