Audio By Carbonatix
The government will borrow ¢4.08 billion on the treasury market tomorrow December 29, 2023.
This will be done through the issuance of the 91-day, 182-day and 364-day bills.
The uptake will partly be used to refinance estimated maturities of ¢2.55 billion.
There will be a substantial difference of ¢1.53bn between the target and refinancing obligation, pointing to the government’s need for funds to support its budget.
Analysts therefore expect a rise in T-bill yields this week.
Last week’s Treasury bill auction garnered substantial investor participation, with total bids of ¢3.58 billion. This surpassed the gross target by 38%.
The government raised ¢3.57 billion across the treasury market.
The auction saw money market yields closing higher as the government sought to raise new fund for budgetary support.
Yields on the 91-day and 182-day tenors increased by 31 and 81 basis points, respectively, to 29.36% and 31.95%. The 364-day yield was unchanged at 32.49%.
Latest Stories
-
Oil pulls back as traders look for progress on US-Iran talks
19 minutes -
The proposed imposition of a 0.75% fee on Mobile Money-To-Bank transfers raises serious concerns regarding fairness, financial inclusion, and the underlying principle of interoperability within the digital financial ecosystem
20 minutes -
Trump raises refugee ceiling by 10,000 to bring in more white South Africans
26 minutes -
One killed and others missing after chemical explosion at US paper mill
38 minutes -
First Ghanaians set to be repatriated from South Africa over anti-immigrant protests
46 minutes -
Deliver or be questioned – Majority Chief Whip warns OSP
58 minutes -
Crime is everywhere – Dafeamekpor slams OSP’s Accra-centred operations
1 hour -
Don’t be cocooned in Accra – Dafeamekpor pushes OSP to invade districts
2 hours -
Free sanitary pads and pad bank Initiative cut teenage pregnancy in Bosomtwe – Girl Child coordinator
2 hours -
Asunafo North Municipal Assembly deploys DL-Rev Software to tackle revenue shortfall
2 hours -
General Mosquito promised to ‘annihilate’ NPP – Dafeamekpor reveals details of earlier tour
2 hours -
Asiedu Nketia has been touring since 2021, not plotting new campaign, says Dafeamekpor
3 hours -
Apple, Google push for judicial oversight in Canada online safety bill
3 hours -
Micron joins $1 trillion club as AI race powers memory chip boom
3 hours -
OpenAI’s Altman says AI unlikely to lead to ‘jobs apocalypse’
3 hours