Moroccan Bond Market Update: Weak Treasury Issuance and Rising Secondary Yields

Bank liquidity pressure in Morocco eased during the week of July 23‑30, 2026, while the Treasury’s latest auction absorbed only a modest slice of investor demand. On the secondary market, yields climbed across most tenors, reflecting tighter funding conditions. BMCE Capital Global Research expects rates to plateau with a slight easing in the 2‑10‑year segment, supported by ample Treasury cash and steady institutional demand.

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