Treasury bills oversubscribed by 15.8% after four weeks of undersubscription

The government has recorded a 15.8% oversubscription of treasury bills, marking a rebound after four consecutive weeks of missed targets.

According to auction results released by the Bank of Ghana, total bids amounted to GH¢4.38 billion, of which GH¢4.36 billion was accepted. The performance was driven largely by investor demand for shorter-dated securities.

The 91-day bill accounted for more than 82% of total bids, with GH¢3.62 billion tendered and GH¢3.61 billion accepted. For the 182-day bill, investors submitted GH¢576.7 million, out of which GH¢566.7 million was taken up. Meanwhile, the 364-day bill attracted GH¢187.2 million in bids, with about GH¢182 million accepted.

In terms of pricing, yields reflected mixed movements. The 91-day bill rose marginally by one basis point to 10.42%, while the 182-day bill climbed to 12.41%, up from 12.37% the previous week. Conversely, the 364-day bill declined by 2 basis points, closing at 12.97%.

The positive auction outcome suggests renewed investor confidence, particularly in short-term government securities, following recent adjustments in yields.

Prince Antwi

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