T-Bills Auction: Government Fails to Meet Target; but Rejects GH¢1.095bn of Bids

T-bill yields fall to 52 week-low, but refinancing concerns emerge amid auction shortfall

By Joshua Worlasi AMLANU & Ebenezer Chike Adjei NJOKU Benchmark Treasury bill yields have fallen to their lowest level in a year, but the government’s latest debt auction fell short of its target. This has left the government struggling to roll over maturing debt, exposing a potential funding gap as inflation continues to ease. Yields on the 182-day and 364-day bills declined last week by 3 and 11 basis points (bps) to 15.46 percent and 15.80 pe…

Ghana's T-Bill Sales Fall Short by GH¢1.2 Billion Amid Declining Yields

Ghana’s treasury bill market recorded its second consecutive week of significant undersubscription, with the government failing to meet its borrowing target by GH¢1.2 billion. According to the latest Bank of Ghana auction report, investors submitted only GH¢5.5 billion in bids against the government’s GH¢6.7 billion target, representing a seventeen point nine percent shortfall. The 91-day bill attracted the strongest investor interest at GH¢3.5 …

T-bills auction: Government fails to meet target; but rejects GH¢1.095bn of bids

The government failed to meet its treasury bill target for the second week running. According to the auction results by the Bank of Ghana, the Treasury got GH¢5.471 billion of the total bids tendered, but rejected GH¢1.095 billion of the bids from the investors.  Once again, a chunk of the bids came from the 91-day […]

T-Bill Auction: rates fall despite second straight target miss

The treasury bill auction of June 5 saw total bids of GHS 5.47bn out of which the government accepted GHS 4.38bn. Despite turning down over GHS 1bn in bids, the total amount raised was far below the target of GHS 6.7bn. Interest rates fell across the board with the 91-day, 182-day and 364-day bill interest […]