The government saw a significant over-subscription of treasury bills, reaching 19.75%, just a week after President Mahama won the presidential elections.According to the Bank of Ghana’s auction results, demand for short-term government securities surged, reflecting investor confidence following the successful elections.The government raised a total of GH¢8.20 billion from the sale of treasury bills, exceeding the target of GH¢6.848 billion. All bids submitted were accepted.The majority of the funds came from the 91-day bill, which attracted GH¢6.740 billion, accounting for 82.1% of the total bids. The 182-day bill received GH¢951.67 million, while the 364-day bill recorded GH¢508.15 million.Interest rates on the treasury bills edged closer to the 30% mark. The yield on the 91-day bill increased by 17 basis points, reaching 27.77%. The 182-day bill yield rose slightly to 28.49%, up from 28.32% the previous week. Meanwhile, the 364-day bill saw a minor increase of 3 basis points, reaching 29.94%.Summary of Auction Results:| Securities   | Bids Tendered (GH¢) | Bids Accepted (GH¢) ||——————|————————|————————-|| 91-Day Bill      | 6.740bn                | 6.740bn                 || 182-Day Bill     | 951.67m                | 951.67m                 || 364-Day Bill     | 508.15m                | 508.15m                 |Total: GH¢8.200 billion (Target: GH¢6.848 billion).

Source: TheDotNews