T-bill Auction: Gov’t records 20% oversubscription as demand holds steady
The government has recorded a sixth consecutive oversubscription for its weekly treasury bills auction as investor appetite for these debt instruments holds steady.
The latest Bank of Ghana auction results indicate that the government recorded a 20% oversubscription, receiving bids worth GH¢9.1 billion, as against its GH¢7.5 billion target, but accepted GH¢9.082 billion of these bids.
According to the results, most of the bids were concentrated in the 91-day treasury bill, with the treasury receiving GH¢6.540 billion while green ticking about GH¢6.535 billion of these tenders.
The 182-day bill also attracted about GH¢1.066 billion in bids, with accepted bids amounting to around GH¢1.056 billion. Similarly, the 364-day bill attracted a little over GH¢1.5 billion in bids, of which GH¢1.491billion was approved.
Meanwhile interest rates continued to exhibited mixed trends along the yield curve. The yield on the 91-day bill climbed by a basis point to 11.17%. The 182-day bill also saw a slight increase, rising 6 basis points to 12.61%, from last week’s 12.55%.
The yield on the 364-day bill however experienced a slight decline, falling by 3 basis points to settle at 12.90%.
The Treasury has set a GH¢7.149 billion target for the next sale of these government-issued debt instruments.
See Full Auction Result Below:
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