The government has once again recorded an oversubscription in its latest short-term debt issuance, underscoring strong confidence from investors.

Data from the Bank of Ghana’s auction reveal that the government raised GHS 5.4 billion from its recent Treasury bill auction, surpassing its target of GHS 4.3 billion by GHS 1.04 billion—equivalent to a 25.58% oversubscription.

The 91-day Treasury bill drew the most interest, with bids totaling GHS 3.5 billion. The government also secured GHS 604 million from the 182-day bill and GHS 1.2 billion from the 364-day bill.

Yields remain elevated across all maturities, ranging between 28% and 30%. The 91-day bill’s yield rose by 15 basis points to 28.19%, while the 182-day bill increased by 23 basis points to 28.91%. The 364-day bill posted a yield of 30.15%, marking an 8-basis-point increase.

Market analysts have observed growing demand for longer-term instruments, with the 364-day bill attracting GHS 1.2 billion. This trend suggests a revival in investor confidence and a willingness to make longer-term financial commitments.

For its next Treasury bill auction, the government is targeting GHS 5.1 billion.

Source: TheDotNews