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.
Government treasury bills exceeded expectations by 73%, with the yield on the one-year bill reaching nearly 13.0%, data from the Bank of Ghana revealed. Investors flocked to purchase the 364-day bill, benefiting from its competitive interest rate, taking in over GH¢6.0 billion of the bids. The government secured GH¢9.4 billion of the GH¢10.7 billion bid, while the 182-day bill saw GH¢1.9 billion in bids, with GH¢1.1 billion accepted.
The 91-day bill also attracted bids, but the uptake was below expectations at GH¢5.8 billion of the GH¢6.0 billion tendered. Overall, interest rates varied across the yield curve, with the 91-day bill yield dropping by 14 basis points to 5.62%, and the 182-day bill yield declining slightly to 7.52%. However, the yield on the 364-day bill surged by 2.0 basis points to 12.98%.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
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