T-bills auction: Government exceeds target by 79%, but one-year bill yield increases
The 364-day bill was once again the most subscribed bill as GH¢7.47 billion of the bids were tendered, representing about 71% of the total bids.
The Ghana government's recent treasury bill auction exceeded expectations, surpassing its target by an impressive 79%. The Treasury received bids worth GH¢10.5 billion, but only accepted a fraction of that amount – slightly over GH¢8.6 billion. The 364-day bill, known for its popularity, was the most subscribed, with GH¢7.47 billion in bids representing around 71% of the total bids.
The 182-day bill also saw significant interest, with GH¢757.9 million in bids and GH¢501 million accepted. For the shorter-term 91-day bill, GH¢2.2 billion in bids were tendered, and GH¢972 million was accepted. As the auction concluded, the yield curve displayed rising interest rates, with the yield on the 91-day bill remaining steady at 5.76%.
The yield on the 182-day bill slightly decreased to 7.64%, while the 364-day bill's yield saw a significant increase of 2.0 basis points, now standing at 12.96%.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
