The government continued to enjoy strong investor interest at its latest treasury bill auction, recording a 30.31 per cent oversubscription for the eighth straight week. The outcome highlights sustained confidence in short-term government securities.
Total bids submitted reached approximately GHS 12.8 billion, well above the government’s target of GHS 9.82 billion. However, only about GHS 2.97 billion of the total bids was accepted.
Investor demand was largely concentrated at the longer end of the short-term yield curve. The 364-day bill attracted bids estimated at GHS 7.45 billion, with the government accepting GHS 5.07 billion of that amount.
The 182-day bill also recorded strong interest, receiving bids of around GHS 4.29 billion. Accepted bids for this tenor stood at approximately GHS 4.28 billion. Meanwhile, the 91-day bill drew bids of nearly GHS 4.15 billion, of which close to GHS 3.44 billion was accepted.
Yields across the curve showed mixed but generally upward movements. The yield on the 91-day bill remained unchanged at 11.19 per cent. The 182-day bill edged up slightly to 12.66 per cent from 12.64 per cent at the previous auction.
Similarly, the yield on the 364-day bill rose by eight basis points to settle at 13.06 per cent, reflecting continued investor preference for longer-dated short-term government instruments.
