Ghana once again fell short of its objective for treasury bills.

Investors continue to favour other financial products that yield higher yields, and the Ghanaian government has once again fallen short of its treasury bill objective.

The government objective was 13% undersubscribed, according to trade figures released by the Bank of Ghana.

In fact, low yields are causing investor enthusiasm in the Treasury market to continue to wane. The trade results showed that the government received GH¢4.619 billion out of a target of GH¢5.329 billion.

It took in all of the bids. The 91-day bill accounted for somewhat more than 81% of the bids. Of the bids, about GH¢3.74 billion were put forward.

Approximately GH¢567 million worth of bids were submitted for the 182-day bill.

Additionally, bids of GH¢309.3 million were submitted for the 364-day bill. Along the yield curve, interest rates are still rising in the meantime.

Source: newsthemegh.com