T-bills auction: Government records oversubscription after a week of missing target

Audio By Carbonatix

The government recorded a 14.1% oversubscription of treasury bills auction just a week after missing its target.

This is coming after yields were mixed on the yield curve.

According to the auction results by the Bank of Ghana, the government received GH¢3.44 billion of the total bids, but accepted GH¢3.01 billion.

A little over 74% of the bids came from the 91-day bill. About GH¢2.58 billion of the bids were tendered. The uptake was GH¢2.57 billion.

For the 182-day bill, GH¢613.8 million of the bids were tendered. This was higher than the bids tendered last week. The bids accepted were estimated to the tune of GH¢608.8 million.

Also, GH¢250.4 million of the bids were tendered for the 364-day bill. About GH¢247.3 million of the bids were accepted.

Meanwhile, the yield on the 91-day bill increased by 3.0 basis point to 10.45%.

However, that of the 182-day bill decrease to 12.36% from 12.41% the preceding week.

Additionally, the yield on the 364-day bill decreased by 9.0 basis points to 12.88%.

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