Investor appetite remained at an all-time high as interest rates tumbled on the yield curve.

According to auction results by the Bank of Ghana, the government yet again recorded a huge oversubscription of treasury bills to the tune of GH¢14.82 billion.

Despite a sharp drop in interest rates, investor interest in the short-term instruments remained high.

According to the data from the Bank of Ghana, the yield on the 91-day bill fell by 113 basis points to 5.32%.

That of the 182-day bill also declined to 6.87% from 8.18% the previous week.

Similarly, the yield on the 364-day bill eased by 44 basis points to 10.20%.

Meanwhile, the government accepted about GH¢8.8 billion of the bids tendered. The target for the auction was estimated at GH¢5,80 billion.  The bids tendered was however GH¢14.82 billion.

The 91-day bill was the most subscribed as GH¢6.82 billion of the bids were tendered, representing 46% of the total bids. However, the bids accepted were GH¢3.74 billion.

The 364-day bill saw bids of about GH¢6.15 billion tendered. The uptake was GH¢3.53 billion.  

For the 182-day bill, GH¢2.82 billion of the bids were tendered. The bids accepted were estimated to the tune of GH¢1.52 billion.

SECURITIES	BIDS TENDERED (GH¢)	BIDS ACCEPTED (GH¢)
91 Day Bill	6.82bn	3.74bn
182 Day Bill	2.82bn	1.525bn
364 Day Bill	5.16bn	3.53bn
Total	14.82bn	8.80bn
Target	5.80bn