Audio By Carbonatix
The government will raise ¢2.89 billion in Treasury bills this Friday February 24, 2022 to refinance T-bill maturities worth ¢2.65 billion.
The bills will be issued across the 91-day, 182-day and 364-day tenors.
Ahead of this, analysts expect investor demand to remain strong, leading to declining yields. Yields are expected to decline in the near term.
This is primarily so because the Treasury market is the only source of borrowing for government.
In the T-bill auction last week, the government mobilized ¢2.76 billion out of ¢3.11 billion as investor demand remains strong.
The uptake exceeded the auction target of ¢1.71 billion and the refinancing obligation.
In the previous T-bill auction, the 91-day and 182-day bill yields declined to 35.67% and 35.72% respectively.
The decline was mainly due to robust investor demand, which has supported a competitive bidding process.
With inflation expectations trending downwards and sustained strong investor demand, analysts anticipate a continued downward trend in T-bill yields.
Latest Stories
-
Oil pulls back as traders look for progress on US-Iran talks
18 minutes -
The proposed imposition of a 0.75% fee on Mobile Money-To-Bank transfers raises serious concerns regarding fairness, financial inclusion, and the underlying principle of interoperability within the digital financial ecosystem
19 minutes -
Trump raises refugee ceiling by 10,000 to bring in more white South Africans
24 minutes -
One killed and others missing after chemical explosion at US paper mill
36 minutes -
First Ghanaians set to be repatriated from South Africa over anti-immigrant protests
44 minutes -
Deliver or be questioned – Majority Chief Whip warns OSP
56 minutes -
Crime is everywhere – Dafeamekpor slams OSP’s Accra-centred operations
1 hour -
Don’t be cocooned in Accra – Dafeamekpor pushes OSP to invade districts
2 hours -
Free sanitary pads and pad bank Initiative cut teenage pregnancy in Bosomtwe – Girl Child coordinator
2 hours -
Asunafo North Municipal Assembly deploys DL-Rev Software to tackle revenue shortfall
2 hours -
General Mosquito promised to ‘annihilate’ NPP – Dafeamekpor reveals details of earlier tour
2 hours -
Asiedu Nketia has been touring since 2021, not plotting new campaign, says Dafeamekpor
3 hours -
Apple, Google push for judicial oversight in Canada online safety bill
3 hours -
Micron joins $1 trillion club as AI race powers memory chip boom
3 hours -
OpenAI’s Altman says AI unlikely to lead to ‘jobs apocalypse’
3 hours