{"id":25763,"date":"2023-03-08T13:24:06","date_gmt":"2023-03-08T13:24:06","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/"},"modified":"2023-03-08T13:24:06","modified_gmt":"2023-03-08T13:24:06","slug":"t-bills-yields-record-huge-fall-as-govt-correct-anomalies","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/","title":{"rendered":"T-bills yields record huge fall as gov\u2019t correct anomalies"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"429\"  alt=\"\" title=\"Ken-Ofori-Atta-1-e1595508828551.jpg\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/03\/Ken-Ofori-Atta-1-e1595508828551-1-696x429.jpg\" data- class=\"entry-thumb td-modal-image lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"429\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/03\/Ken-Ofori-Atta-1-e1595508828551-1-696x429.jpg\"   alt=\"\" title=\"Ken-Ofori-Atta-1-e1595508828551.jpg\"\/><\/noscript><\/div>\n<p><strong>Treasury bills witnessed another high patronage even as government measures to correct interest rate anomalies pushed the yields significantly lower from the 35 percent levels.<\/strong><\/p>\n<p>Yields on the 91-day bill ticked lower by more than 1,000 basis points to 24.1% from a week earlier, according to the auction results by the Bank of Ghana. The 182-day fell by 850 bps to 26.5%, while the 1-year note was down 750 bps at 27.5%.<\/p>\n<p>The latest drop of between 7.5% and 10%+ marks the biggest fall in a single auction in many years.<\/p>\n<p>Yet, the auction was oversubscribed. The government accepted bids to GHS4.52 billion out of GHS6.15 billion tendered.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"392\" height=\"248\"  src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/03\/t-bills-300x190.png\" data- class=\"alignnone  wp-image-283714 lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-283714\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/03\/t-bills-300x190.png\" alt=\"\" width=\"392\" height=\"248\"  \/><\/noscript><\/p>\n<p><strong>Source: Bank of Ghana<\/strong><\/p>\n<p>\u201cWe expected the rates to drop, but the margin for a single auction was quite huge,\u201d Lead Researcher with GCB Capital Courage Boti told 3Business.<\/p>\n<p>The Treasury rejected all bids quoted around 35% levels in the T-bills auction last Friday and asked investors to revise down.<\/p>\n<p>\u201cWe believe investors will remain robust despite the current development, which may lower appetite for T-bills slightly,\u201d Investment firm Databank said in a market update to clients.<\/p>\n<p>However, the auction saw high subscriptions as the domestic market is awash with liquidity.<\/p>\n<p>\u201cBonds are not that attractive now, banks are conservative with loan book expansion to avoid further impairment, and that has resulted in excess liquidity on the market,\u201d Courage Boti explained.<\/p>\n<p>Total interest servicing costs for short-term instruments are expected to drop significantly as the government corrects yields on the money market. However, the huge drop may cause some distortions.<\/p>\n<p>Market-watchers expect yields to drop further in subsequent treasury auctions despite inflation at a record level of 53.6 percent.<\/p>\n<p><strong>Sani Abdul-Rahman | 3Business<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Treasury bills witnessed another high patronage even as government measures to correct interest rate anomalies pushed the yields significantly lower from the 35 percent levels. Yields on the 91-day bill ticked lower by more than 1,000 basis points to 24.1% from a week earlier, according to the auction results by the Bank of Ghana. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-25763","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>T-bills yields record huge fall as gov\u2019t correct anomalies - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T-bills yields record huge fall as gov\u2019t correct anomalies - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Treasury bills witnessed another high patronage even as government measures to correct interest rate anomalies pushed the yields significantly lower from the 35 percent levels. Yields on the 91-day bill ticked lower by more than 1,000 basis points to 24.1% from a week earlier, according to the auction results by the Bank of Ghana. The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-08T13:24:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1436\" \/>\n\t<meta property=\"og:image:height\" content=\"885\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/\",\"name\":\"T-bills yields record huge fall as gov\u2019t correct anomalies - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg\",\"datePublished\":\"2023-03-08T13:24:06+00:00\",\"dateModified\":\"2023-03-08T13:24:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#primaryimage\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg\",\"contentUrl\":\"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg\",\"width\":1436,\"height\":885},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ghanamma.com\/2023\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"T-bills yields record huge fall as gov\u2019t correct anomalies\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2023\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2023\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\/\/www.ghanamma.com\/2023\"],\"url\":\"https:\/\/www.ghanamma.com\/2023\/author\/ghanamma\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"T-bills yields record huge fall as gov\u2019t correct anomalies - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/","og_locale":"en_US","og_type":"article","og_title":"T-bills yields record huge fall as gov\u2019t correct anomalies - Ghanamma.com","og_description":"Treasury bills witnessed another high patronage even as government measures to correct interest rate anomalies pushed the yields significantly lower from the 35 percent levels. Yields on the 91-day bill ticked lower by more than 1,000 basis points to 24.1% from a week earlier, according to the auction results by the Bank of Ghana. The [&hellip;]","og_url":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/","og_site_name":"Ghanamma.com","article_published_time":"2023-03-08T13:24:06+00:00","og_image":[{"width":1436,"height":885,"url":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg","type":"image\/jpeg"}],"author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/","url":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/","name":"T-bills yields record huge fall as gov\u2019t correct anomalies - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2023\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg","datePublished":"2023-03-08T13:24:06+00:00","dateModified":"2023-03-08T13:24:06+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2023\/wp-content\/uploads\/2023\/01\/Ken-Ofori-Atta-1-e1595508828551-1.jpg","width":1436,"height":885},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2023\/03\/08\/t-bills-yields-record-huge-fall-as-govt-correct-anomalies\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2023\/"},{"@type":"ListItem","position":2,"name":"T-bills yields record huge fall as gov\u2019t correct anomalies"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2023\/#website","url":"https:\/\/www.ghanamma.com\/2023\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2023\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/6f91dab2e50bbbfe895c93e7e84e7f74","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2023\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2023"],"url":"https:\/\/www.ghanamma.com\/2023\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts\/25763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/comments?post=25763"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/posts\/25763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/media\/2413"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/media?parent=25763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/categories?post=25763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2023\/wp-json\/wp\/v2\/tags?post=25763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}