91-Day T-Bill holds steady at 24.86% yield as Gov’t mobilizes GHS 3.6 billion in latest auction
The Government of Ghana successfully raised GHS 3.6 billion through its latest issuance of Treasury Bills, surpassing the initial target of GHS 3.55 billion by GHS 48 million.
This oversubscription represents a 1.3% increase above the targeted amount.
Last week’s T-Bill auction revealed a slight reduction in yields for the 182-Day and 364-Day Bills, which decreased by 0.02% and 0.03% respectively.
The yield on the 91-Day Bill, however, remained unchanged at 24.86%.
The auction attracted a significant number of subscriptions, particularly for the 91-Day Bill, which garnered the highest level of interest. Following this were the 182-Day and 364-Day Bills.
The successful bids totaled GHS 2.76 billion for the 91-Day tenor, GHS 660 million for the 182-Day tenor, and GHS 182 million for the 364-Day tenor.
Consequently, the final auction yields settled at 24.86% for the 91-Day Bill, 26.80% for the 182-Day Bill, and 27.78% for the 364-Day Bill.
The slight decline in yields and the substantial oversubscription in last Friday’s T-Bill issuance reflect investor confidence and the Government’s effective strategy in managing its short-term debt instruments amidst varying market conditions.
Looking ahead, the Treasury aims to mobilize GHS 2.65 billion in the upcoming T-Bill auction, which will include issuances of 91-Day, 182-Day, and 364-Day Bills.
Meanwhile, the traded volume of new government bonds in the fixed-income market reached 13.2 million, culminating in a total traded value of GHS 938 million as of last Friday.
This performance underscores the active participation and sustained interest in the government’s new debt instruments among investors.
There was, however, no recorded trading activity in the old government bonds.
