For the sixth consecutive week, the government has missed its Treasury auction target, with investor appetite continuing to decline, resulting in yet another undersubscription at the latest auction.

Auction results released by the Bank of Ghana showed that the government raised GH¢4.9 billion against a maturing target of GH¢6.42 billion.

Bids were submitted across all three tenors: the 91-day, 182-day, and 364-day bills.

The 91-day bill recorded GH¢3.93 billion in bids, of which GH¢3.82 billion was accepted.

T-Bills: Government misses auction target for the fifth week

The 182-day bill received GH¢749 million, with GH¢744 million accepted, while the 364-day bill saw GH¢266 million in tenders, with GH¢263 million accepted.

Conversely, the 91-day bill edged up by 11 basis points to 11.13 percent from 11.02 percent the previous week.

The 182-day bill rose by 2 basis points to 12.68 percent and the 364-day bill slipped by 2 basis points to 13.06 percent.

With this trend in the T-bills market, analysts point to strong demand for Bank of Ghana bills, particularly the 56-day bills, which are currently offering yields of around 21 percent.

SP/AE

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