Government exceeds T-Bill target by 73% as one-year yield nears 13%

The government exceeded its treasury bills target by 73%, with the one-year bill's yield climbing to almost 13.0%. According to auction results from the Bank of Ghana, investors once again favoured the 364-day bill because of its higher interest rate. In total, the government received GH¢10.7 billion in bids and accepted GH¢9.4 billion. Breakdown by bill type The 364-day bill remained the most popular, drawing a little over GH¢6.0 billion in bids — 55.8% of all bids tendered. Of that, GH¢5.8 billion was accepted. The 182-day bill received GH¢1.9 billion in bids, of which a little above GH¢1.1 billion was accepted. The 91-day bill received GH¢6.0 billion in bids, with a little above GH¢5.8 billion accepted. Interest rates mixed Rates moved in different directions across the yield curve. - The 91-day bill's yield dropped 14 basis points to 5.62%. - The 182-day bill's yield fell to 7.52%, down from 7.64% the previous week. - The 364-day bill's yield rose 2.0 basis points to 12.98%.Source: classfmonline.com
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