Government will seek to raise ¢2.06 billion in this week’s Treasury bill auction to refinance the upcoming T-bill maturities of ¢1.711 billion.
This is coming after it fell short of the auction target for the fourth successive week.
The government raked in ¢1.24bn in last week’s T-bill auction target, covering 94% of the auction target and exceeding the T-bill refinancing obligation by 16.44%.
The auction saw improved demand compared to the previous week’s auction (62.40% target coverage).
Yields went up across the T-bill curve with the 91-day at 33.34% (+0.64%), 182-day at 34.85% (0.59%) and 364-day at 34.80%.
With the October 2022 inflation to be announced this week, analysts expect investors to be keen on the inflation print for pricing guidance in the T-bill auction this week.
They anticipate that the recent increment in fuel prices and transport fares will exert upward pressure on headline inflation.
Trading activity on secondary market slows down
Last week, trading activity on the secondary market slowed down as tight liquidity conditions constrained demand.
Total face traded amounted to ¢3.58 billion, reflecting a 23.87% week-on-week decline.
Bid yields were quoted around 37% to 42%. Yields remained broadly stable on the market.
Analysts expect trading activity to remain subdued on the secondary market due to constrained liquidity and as investors remain keen on October 2022 inflation for pricing guidance this week.
Latest Stories
- Fire destroys 3 houses, five vehicles at Kwadaso
46 mins - Performance of changed minority leaders outstanding, reshuffle came as a surprise – Political Analyst
56 mins - Abubakar Malik Atampuri: A detailed analysis of why Dr. Kuganab-Lem lost the Binduri seat to the NPP
2 hours - Liverpool manager Jurgen Klopp says Mohamed Salah is ‘suffering’ this season
3 hours - Auditor General’s Covid-19 report: ‘We need to see prosecution’ – Theo Acheampong
3 hours - Mrs Frances Ivy Anin nee Nana Akyere
3 hours - Supporting budget with 46% of Covid-19 funds not wrong – Sylvester Tetteh on Auditor-General’s report
3 hours - Samson’s Take: OSP officers fighting corruption on empty stomach?
3 hours - DWP Powerlist 2022: WhiteChalk CEO among 100 most sought after wedding planners, designers
3 hours - NDC impasse confirms long-held rivalry between Mahama and Haruna Iddrisu – Sylvester Tetteh
4 hours - Industry players should also commit to attainment of SDGs – AGI president
4 hours - We are in economic crisis because government misused Covid-19 funds – Kofi Adams
4 hours - ‘Exceptional guy’ Ake edges Man City past Arsenal in FA Cup
4 hours - Reality zone with Vicky Wireko: Africa’s leadership failures: Do we cast stone at age or quality?
5 hours - Novak Djokovic: Dad’s Russia controversy was ‘not pleasant’ but a ‘misinterpretation’
5 hours