T-bills auction: Government records undersubscription for 6th consecutive week; yield on 182-day up by 6.0bps

Audio By Carbonatix

The government failed to meet its treasury bills target for the sixth consecutive week.

However, the undersubscription was marginal, nearly one percent.

According to the auction results by the Bank of Ghana, the bids tendered by the investors were estimated at GH¢4.43 billion, against a target of GH¢4.47 billion.

The government, however, accepted about GH¢3.8 billion of the bids.

The 91-day bill was once again the most subscribed bill as GH¢2.75 billion of the bids tendered. This represented 62.1% of the total bids. The uptake was, however, GH¢2.71 billion.

The 364-day bill recorded bids of about GH¢960 million. The uptake was GH¢522.4 million.

For the 182-day bill, GH¢717.6 million of the bids were tendered. About GH¢664 of the bids were accepted.

Meanwhile, interest rates were mixed on the yield curve.

The yield on the 91-day bill decreased by 2.0 basis points to 4.92%.

That of the 182-day bill, however, went up to 6.96% from the previous week’s 6.90%.

In contrast, the yield on the 364-day bill remained unchanged at 10.12%.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	2.75bn	2.71bn
182 Day Bill	717.64m	664.37m
364 Day Bill	960.08m	522.48m

Total	4.43bn	3.89m
Target	4.47bn

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags: