Investor interest in Treasury securities inched up significantly despite the expected announcement of a debt restructuring programme by the government.
Government treasury bills sales grew by 48.4% week-on-week, as it got ¢2.76 billion during the last auction Thursday, December 2, 2022.
This is the third week running that the government T-bills have been oversubscribed.
Following the announcement of ‘haircut’ for government bonds, investors are now migrating to short-term securities, hence the growing interest.
For the first time in several months, the 182-day T bills also recorded huge participation as bids tendered were estimated at ¢519.87 million. ¢502.01 million was however accepted.
The yield was 37.2%, a little higher than the 36.37% the past week.
The bids tendered for the 91-day T-bills were estimated at ¢2.066 billion. All the funds were accepted at an interest rate of 36.1%, about 0.56% increase.
The gradual improvement in liquidity is good for the financial sector.
But some market watchers are cautioning government to be careful about the debt restructuring programme in order to calm rumours and uncertainty.
Securities | Bids Tendered (GH¢) | Bids Accepted (GH¢) |
91 Day Bill | 2.246 billion | 2.246 billion |
182 Day Bill | 519.87 million | 502.01 million |
Total | 2.765 billion | 2.748 billion |
Target | 1.852 billion | 1.852 billion |
Latest Stories
-
Titanic gold pocket watch sells for £900,000
3 mins -
Elon Musk in China to discuss enabling full self driving – reports
8 mins -
Foreign Affairs Ministry advises against travelling to Northern Mali
22 mins -
After dating him for three years, I proposed to my husband
25 mins -
Beatrice ‘Bee’ Arthur tackles plastic pollution through artistic exploration
1 hour -
Hundreds turn out for Luv FM/Telecel Fitness Walk in Kumasi
1 hour -
Ghana Post launches Asantehene Commemorative Stamp
1 hour -
Police fire tear gas to disperse Benin wage protest
1 hour -
Airline keeps mistaking 101-year-old woman for baby
1 hour -
Harvey Weinstein hospitalised after conviction overturned
1 hour -
Anis Hafar: Learning how to avoid wars
2 hours -
Private legal practitioner wins Akan NPP parliamentary candidate poll
2 hours -
American-Israeli hostage appears in Hamas video for first time
2 hours -
Samson’s Take: Arrogance of Power, Shameful Policing
9 hours -
Burnley score late to draw with Manchester United at Old Trafford
11 hours