T-bills: Government exceeds target by 73%, but yield on one-year bill hits 12.98%
The 364-day bill was once again the most subscribed bill, with a little over GH¢6.0 billion of the bids tendered, representing 55.8% of the total bids. The uptake was, however, GH¢5.8 billion.
The government's treasury bills target was surpassed by an impressive 73%, according to auction results released by the Bank of Ghana. This surge was driven by the high interest rate offered on the one-year bill, which saw its yield climb to nearly 13.0%. Out of the total bids tendered, the government accepted GH¢9.4 billion, slightly below the GH¢10.7 billion it was entitled to.
The 364-day bill remained the most subscribed, with over GH¢6.0 billion of the bids accepted, accounting for 55.8% of the total. The 182-day bill and the 91-day bill also saw significant demand, with GH¢5.8 billion and GH¢1.1 billion accepted, respectively. Meanwhile, the interest rates on the yield curve exhibited mixed trends, with the 91-day bill's yield dropping by 14 basis points to 5.62%, while the 182-day bill's yield declined to 7.52% from the previous week's 7.64%. However, the yield on the 364-day bill surged by 2.0 basis points to 12.98%.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
