2025 Mar 14, 20:26
The government plans to borrow ¢4.08 billion on the treasury market tomorrow, December 29, 2023, by issuing 91-day, 182-day, and 364-day bills. This borrowing is expected to partly refinance estimated maturities of ¢2.55 billion. However, there will be a substantial difference of ¢1.53 billion between the target and refinancing obligation, indicating the government's need for funds to support its budget. Financial analysts predict an increase in T-bill yields this week as a result
Last week's Treasury bill auction was highly successful, with total bids reaching ¢3.58 billion, surpassing the gross target by 38%. The government was able to raise ¢3.57 billion through the treasury market. During the auction, money market yields rose as the government sought to secure new funds for budgetary support. Yields on the 91-day and 182-day tenors increased by 31 and 81 basis points, respectively, reaching 29.36% and 31.95%
The yield on the 364-day bill remained unchanged at 32.49%. It is important to note that the views, comments, opinions, contributions, and statements made by readers and contributors on this platform do not necessarily represent the views or policies of Multimedia Group Limited.