Government misses treasury bill target by GH¢1.53bn as yields record mixed movements

Government has raised GH¢3.48 billion from its latest treasury bill auction, falling GH¢1.53 billion short of its GH¢5.01 billion target as investors’ demand and yields varied across the three instruments.

The amount accepted represents approximately 69.5% of the government’s target, with the 91-day bill accounting for the largest share of successful bids.

Across all three tenors, the government accepted less than the amounts investors offered. Yields increased on the 91-day and 182-day bills but declined slightly on the 364-day instrument.

For the 91-day bill, investors tendered GH¢2.94 billion, out of which GH¢2.20 billion was accepted. The yield edged up to 4.62% from 4.60% at the previous auction.

The 182-day bill attracted bids totalling GH¢1.11 billion, with the government accepting GH¢692 million. Its yield rose to 6.31% from 6.28%.

Meanwhile, the 364-day bill received GH¢1.12 billion in bids, of which GH¢587 million was accepted. The yield eased to 9.71% from 9.75%.

For the next auction, the government is targeting GH¢3.80 billion through treasury bill sales.