Attijari Global Research (AGR) notes that the downward movement continues in the bond market. The confrontation of excess investor demand and a still moderate Treasury supply of Treasury Bills (BDT) during the auction session on February 9 exerted downward pressure on the primary curve, mainly at the level of the maturities concerned by the emergence.

Yields on 26-week, 5-year and 15-year maturities fell by 2 basis points (bps), 7 bps and 5 bps respectively.
AGR indicates in its latest Hebdo Taux, that at a session at the end of February, the Treasury raises on the domestic market 59% of its need announced at the beginning of the month, equivalent to 6 billion dirhams (MMDH). the remainder to be financed for the next auction session is approximately 4.2 billion dirhams
According to AGR analysts, "the still comfortable situation of public finances, combined with an overliquidity of investors should, according to our forecasts, maintain the downward trend in primary rates for the rest of this quarter".