orocco’s Capital Market Authority has published its monthly indicators for August: 76,970 million dirhams have been raised since the start of the year, against 77,053 a year earlier, an almost unchanged total.
Behind this stability, long-term debt keeps retreating. Bond issues fall to 19,050 million dirhams from 29,400, or 35% less.
Negotiable debt securities, by contrast, rise to 54,918 million from 43,483, carried by certificates of deposit, which nearly double, to 31,532 million against 16,197.
The MASI ends the month at 18,652.72 points, down 1.03% since January and 6.99% over twelve months.
Collective investment keeps growing: six hundred and twenty-seven UCITS hold net assets of 845.44 billion dirhams, up 7.69%, with short-term bond funds and money market funds growing the most.
Month after month, Moroccan savings thus confirm their preference for the short term, the very preference that will weigh on the cost of corporate financing until the end of the year.
Photo: AyourAchtouk, CC BY-SA 4.0.
