{"id":1246365,"date":"2022-11-08T09:31:25","date_gmt":"2022-11-08T09:31:25","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/08\/government-to-raise-%c2%a22-06bn-in-this-weeks-t-bill-auction\/"},"modified":"2022-11-08T09:31:25","modified_gmt":"2022-11-08T09:31:25","slug":"government-to-raise-%c2%a22-06bn-in-this-weeks-t-bill-auction","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/08\/government-to-raise-%c2%a22-06bn-in-this-weeks-t-bill-auction\/","title":{"rendered":"Government to raise \u00a22.06bn in this week’s T-bill auction"},"content":{"rendered":"

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Government will seek to raise \u00a22.06 billion in this week\u2019s Treasury bill auction to refinance the upcoming T-bill maturities of \u00a21.711 billion.<\/p>\n

This is coming after it fell short of the auction target for the fourth successive week.<\/p>\n

The government raked in \u00a21.24bn in last week\u2019s T-bill auction target, covering 94% of the auction target and exceeding the T-bill refinancing obligation by 16.44%.<\/p>\n

The auction saw improved demand compared to the previous week\u2019s auction (62.40% target coverage).<\/p>\n

Yields went up across the T-bill curve with the 91-day at 33.34% (+0.64%), 182-day at 34.85% (0.59%) and 364-day at 34.80%.<\/p>\n

With the October 2022 inflation to be announced this week, analysts expect investors to be keen on the inflation print for pricing guidance in the T-bill auction this week.<\/p>\n

They anticipate that the recent increment in fuel prices and transport fares will exert upward pressure on headline inflation.<\/p>\n

Trading activity on secondary market slows down<\/strong><\/p>\n

Last week, trading activity on the secondary market slowed down as tight liquidity conditions constrained demand.<\/p>\n

Total face traded amounted to \u00a23.58 billion, reflecting a 23.87% week-on-week decline.<\/p>\n

\u00a0Bid yields were quoted around 37% to 42%. Yields remained broadly stable on the market.<\/p>\n

Analysts expect trading activity to remain subdued on the secondary market due to constrained liquidity and as investors remain keen on October 2022 inflation for pricing guidance this week.<\/p>\n

DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Government will seek to raise \u00a22.06 billion in this week\u2019s Treasury bill auction to refinance the upcoming T-bill maturities of \u00a21.711 billion. This is coming after it fell short of the auction target for the fourth successive week. The government raked in \u00a21.24bn in last week\u2019s T-bill auction target, covering 94% of the auction target […]<\/p>\n","protected":false},"author":1,"featured_media":1207608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[28634,1083,1090,423,28635,625],"class_list":["post-1246365","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-2-06bn","tag-auction","tag-government","tag-raise","tag-tbill","tag-weeks"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1246365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1246365"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1246365\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1246365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1246365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1246365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}