Treasury yields are expected to decline despite being steady during the week under review.

However, they are likely to progress at a glacial pace.

Despite a growing appetite for alternative yields, possibly limiting the decrease in treasury bill yields, analysts expect slight declines in the 91-day and 182-day yields with a slight uptick in demand for the 364-day bill in this week’s print.

This is fueled by the recent positive trend stemming from June 2024’s inflation print and an optimistic sentiment following the $360 million disbursement from the International Monetary Fund.

Last week, interest rates across the yield curve remained steady. The 91-day bill yield was unchanged at 24.79%.

The 182-day bill followed suit at 26.75%, and the 364-day bill closed the auction at 27.79%.

The government accepted all bids tendered for the third consecutive week but fell short of its target by about 0.23%.

The government raised GH¢4.49 billion, against a set target of GH¢4.72 billion to cover maturities worth GH¢4.45 billion.

Meanwhile, the government aims to raise GH¢5.3 billion this week through the 91-day, 182-day, and 364-day bills to refinance maturing bills totaling GH¢4.2bn.