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
- AfDB and IFAD to build food systems resilience in Africa through ‘Mission 1 for 200’ initiative
17 mins - Swansea fans clamor for Andre Ayew return
36 mins - Total Mobile Money transactions in 2022 hit record ¢1.07trillion
41 mins - CHAN 2022: We didn’t deserve to lose – Annor Walker on defeat to Niger
1 hour - Novak Djokovic says 10th Australian Open is his ‘biggest victory’
1 hour - T-bills auction: Government records 60% oversubscription
1 hour - Novak Djokovic: Why can’t the next generation stop the Australian Open champion?
1 hour - Michael B. Jordan jokes about his break up with Lori Harvey during ‘SNL’ monologue
1 hour - Malta Guinness WPL: Ridge City still winless as Hasaacas Ladies beat LadyStrikers
2 hours - The Fourth Estate uncovers fraud in SHS computerised placement
2 hours - Ghanaian Farmer TV host to join agric stakeholders in Turkey to promote farmers’ success stories
2 hours - Modernisation, harmonisation of regulatory frameworks critical for universal broadband coverage by 2030 – Ralph Mupita
2 hours - Tax payers can object to taxes imposed with right documents – Tax Expert
2 hours - New chief falls from palanquin during coronation in Central Region
3 hours - Full video: SHS computerised placement for sale
3 hours