Due to investor interest in fixed deposits and other market instruments, the government once again fell short of its objective for Treasury bills.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Government of Ghana once again missed its treasury bills target as investor interest continues to shift to Fixed Deposits and other money market instruments.

According to auction results from the Bank of Ghana, the T-bills were undersubscribed by 30%.

The government received GH¢4.760 billion from a target of GH¢6.824 billion.

For the first time in several weeks, it accepted all the total bids.

A little over 73% of the bids came from the 91-day bill.  About GH¢3.4 billion of the bids were tendered.

For the 182-day bill, GH¢785.31 million of the bids were tendered. Also, GH¢487.5 million of the bids were offered for the 364-day bill.

Meanwhile, interest rates were mixed on the yield curve.

Source: newsthemegh.com