Audio By Carbonatix
The Government of Ghana is expected to borrow ¢2.91 billion across this week.
This will be done via the 91-day, 182-day and 364-day bills.
The proceeds from the auction will partly be used to refinance upcoming maturities estimated at ¢1.74 billion.
Analysts believe the significant difference between the maturing bills and the auction target could signal the government’s need for funds.
This will cause yields to rise.
Last week, the Treasury bill auction garnered substantial investor participation, with total bids of ¢2.30bn surpassing the gross target.
The successful bids reached ¢2.28bn, signaling a recovery in demand.
The auction saw money market yields closing higher as the government sought to attract enough bids to cover the target.
Yields across all tenors touched a sixteen-week high.
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