{"id":50527,"date":"2025-12-29T16:08:22","date_gmt":"2025-12-29T15:08:22","guid":{"rendered":"https:\/\/le12.ma\/fr\/?p=50527"},"modified":"2025-12-29T16:08:22","modified_gmt":"2025-12-29T15:08:22","slug":"marches-monetaires-et-obligataires-19-25-decembre-synthese-de-la-note-weekly-hebdo-taux-fixed-income-dagr","status":"publish","type":"post","link":"https:\/\/le12.ma\/fr\/marches-monetaires-et-obligataires-19-25-decembre-synthese-de-la-note-weekly-hebdo-taux-fixed-income-dagr\/","title":{"rendered":"March\u00e9s mon\u00e9taires et obligataires (19-25 d\u00e9cembre) : synth\u00e8se de la note \u00ab\u00a0Weekly Hebdo Taux – Fixed Income\u00a0\u00bb d’AGR"},"content":{"rendered":"

Voici les principaux points \u00e0 retenir concernant la note \u00ab\u00a0Weekly Hebdo Taux \u2013 Fixed Income\u00a0\u00bb d\u2019Attijari Global Research (AGR) couvrant la p\u00e9riode du 19 au 25 d\u00e9cembre 2025 :<\/strong><\/h2>\n

March\u00e9 mon\u00e9taire :<\/strong><\/p>\n

– Les segments du march\u00e9 mon\u00e9taire se sont caract\u00e9ris\u00e9s par un \u00e9quilibre g\u00e9n\u00e9ral.<\/strong><\/p>\n

– Bank Al-Maghrib maintient l\u2019harmonie du syst\u00e8me bancaire \u00e0 travers ses injections de liquidit\u00e9.<\/strong><\/p>\n

– Les op\u00e9rations principales se sont \u00e9tablies \u00e0 159,3 milliards de dirhams (MMDH), en hausse de 1,9 MDH par rapport \u00e0 la semaine pr\u00e9c\u00e9dente.<\/strong><\/p>\n

– Les Taux MONIA ont recul\u00e9 de 3 points de base \u00e0 2,2%.<\/strong><\/p>\n

– Le Tr\u00e9sor a nettement acc\u00e9l\u00e9r\u00e9 cette semaine le rythme de placement de ses exc\u00e9dents de tr\u00e9sorerie sur le march\u00e9 mon\u00e9taire.<\/strong><\/p>\n

March\u00e9 obligataire :<\/strong><\/p>\n

– La derni\u00e8re s\u00e9ance d\u2019adjudication du Tr\u00e9sor de l\u2019ann\u00e9e, tenue le 23 d\u00e9cembre 2025, a \u00e9t\u00e9 marqu\u00e9e par une demande des investisseurs de 2,3 MMDH, face \u00e0 une absence du Tr\u00e9sor sur le march\u00e9 des adjudications.<\/strong><\/p>\n

– Dans le cadre de la ma\u00eetrise de sa liquidit\u00e9, le Tr\u00e9sor a organis\u00e9 une s\u00e9ance de rachat de BDT portant sur 11 MMDH, contre 12,6 MMDH de soumissions.<\/strong><\/p>\n

– Les taux de rendement primaires se sont stabilis\u00e9s par rapport \u00e0 la semaine pr\u00e9c\u00e9dente.<\/strong><\/p>\n

– Sur le march\u00e9 secondaire, les taux de rendement ont poursuivi leur tendance baissi\u00e8re, enregistrant des reculs atteignant jusqu’\u00e0 -7 points de base.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Voici les principaux points \u00e0 retenir concernant la note \u00ab\u00a0Weekly Hebdo Taux \u2013 Fixed Income\u00a0\u00bb d\u2019Attijari Global Research (AGR) couvrant la p\u00e9riode du 19 au 25 d\u00e9cembre 2025 : March\u00e9 mon\u00e9taire : – Les segments du march\u00e9 mon\u00e9taire se sont caract\u00e9ris\u00e9s par un \u00e9quilibre g\u00e9n\u00e9ral. – Bank Al-Maghrib maintient l\u2019harmonie du syst\u00e8me bancaire \u00e0 travers […]<\/p>\n","protected":false},"author":2,"featured_media":50528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[26,25,54],"tags":[10238,10239],"yst_prominent_words":[2683,2081,1553,1352,246,2582],"jetpack_featured_media_url":"https:\/\/le12.ma\/fr\/wp-content\/uploads\/2025\/12\/vis_1229202515081106-e1767020889557.jpg","_links":{"self":[{"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/posts\/50527"}],"collection":[{"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/comments?post=50527"}],"version-history":[{"count":1,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/posts\/50527\/revisions"}],"predecessor-version":[{"id":50529,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/posts\/50527\/revisions\/50529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/media\/50528"}],"wp:attachment":[{"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/media?parent=50527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/categories?post=50527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/tags?post=50527"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/le12.ma\/fr\/wp-json\/wp\/v2\/yst_prominent_words?post=50527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}