Stocks Market
Moroccan Treasury Auction Highlights: 2‑Year Yield Falls, 10‑Year Yield Rises
<p>The Moroccan Treasury successfully raised 3.5 billion MAD in its February 24 auction, attracting a total demand of 14.53 billion MAD. The issue was split between 2‑year and 10‑year maturities, with 1.42 billion MAD and 2.08 billion MAD respectively. The 2‑year benchmark yield slipped to 2.513 % (down 3 bps), while the 10‑year jumped to 2.956 % (up 21.2 bps), signaling continued easing in the short end and a shift upward in the long end of the curve.</p> <p>No bids were accepted for the 26‑week or 20‑year series. Settlement is scheduled for March 2, 2026.</p>
Listen to this article
Unlock audio versions of premium articles and more with a Pro subscription.
Key Auction Figures
- Total amount raised: 3.5 billion Moroccan dirhams (MAD)
- Total demand: 14.53 billion MAD
- 2‑year issue: 1.42 billion MAD
- 10‑year issue: 2.08 billion MAD
- Rejected tenors: 26‑week and 20‑year lines
Yield Movements
- 2‑year benchmark: 2.513 % (down 3 bps from the previous rate of 2.543 %)
- 10‑year benchmark: 2.956 % (up 21.2 bps from the previous rate of 2.744 %)
The short‑end of the curve continues to ease, while the long‑end is adjusting upward, possibly reflecting delayed transmission of earlier short‑term pressures.
Settlement date: March 2, 2026.