T-Bill Market Sees Sustained Investor Confidence as Gov’t Exceeds Auction Target for 4th Consecutive Week
The Government of Ghana has raised GHS 4.07 billion in its latest Treasury bill auction, surpassing its target of GHS 4.01 billion by GHS 66 million.
This marks the fourth consecutive week in which the government has exceeded its auction goals, reflecting a trend of sustained investor confidence in the nation’s short-term debt securities.
The auction, held on November 1, saw particularly robust demand for the 91-day bill, which drew bids totaling GHS 3.32 billion.
The 182-day and 364-day bills also attracted considerable investor interest, raising GHS 549 million and GHS 200 million, respectively.
The rising yields across all tenors appear to be a key factor behind the growing appetite for Treasury bills.
The 91-day bill closed at a yield of 26.56%, up by 0.37 percentage points from the previous auction, while the 182-day bill reached 27.58%, reflecting a 0.29 percentage point increase.
The 364-day bill also saw a slight yield uptick, closing at 29.03%, an increase of 0.06 percentage points.
In the coming week, the government aims to raise GHS 5.62 billion through another Treasury bill auction.
This continued reliance on short-term securities underscores the government’s strategy to meet its immediate financing needs.
