T-bills auction: Government records 16% undersubscription; interest rates register mixed performance across yield curve
The Treasury received GH¢4.17 billion of the total bids but accepted GH¢3.48 billion.
The government's recent treasury bills auction saw a significant undersubscription of 16%, falling short of its target for the first time in weeks. The Bank of Ghana reported that the Treasury managed to accept only 70.5% of the total bids received, amounting to GH¢3.48 billion. The 91-day bill was the most popular, receiving over GH¢2.9 billion in bids, with only GH¢2.2 billion accepted.
The 182-day bill garnered bids of about GH¢1.1 billion, of which GH¢692.30 million were accepted. For the 364-day bill, a little over GH¢1.1 billion in bids were received, with the Treasury accepting 587.61 million of them. On the yield curve, interest rates showed mixed performance. The yield on the 91-day bill rose by 2.0 basis points to 4.62%, while the 182-day bill's yield increased to 6.31% from 6.27% the previous week. However, the 364-day bill's yield dropped by 4.0 basis points to 9.71%.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
