{"id":271156,"date":"2024-12-26T22:36:37","date_gmt":"2024-12-26T22:36:37","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/26\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\/"},"modified":"2024-12-26T22:36:37","modified_gmt":"2024-12-26T22:36:37","slug":"t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/26\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\/","title":{"rendered":"T-bills auction: Government got GH\u00a221.5bn in November 2024, lower than target"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">Total bids received for treasury bills auction in November 2024 was estimated at GH\u00a221.5 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This fell short of the government\u2019s gross target of GH\u00a222.8 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government allotted all bids to exceed the refinancing obligation by 8.3%. However, it fell short of the target by 5.5% with a sustained risk of the uncovered auction in December 2024 as refinancing obligation jumps to GH\u00a226.1 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Importantly, investor demand for the T-bills increased by 27.2% month-on-month in November 2024 but remained insufficient to fully cover the high auction target for the month under review.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, unsurprisingly, yields remained on the uptrend in November 2024, averaging 90 basis points (bps) across the T-bills with renewed near-term inflation uncertainty and persistent Treasury borrowing pressure as the main drivers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 91-day yield climbed the steepest (+100bps) to 27.2%, the 182-day (28.0%) and the 364-day yields (29.8%) also gained 70bps and 85bps, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For investors with higher preference for liquidity and fair return, analysts tipped the 182-day tenor since the 364-day yield does not offer adequate cushion against its duration risk.<\/p>\n\n                <p><strong>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               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div><div style=\"clear: both; overflow:hidden;margin:20px auto; width:100%; min-height:280px;\">\n                                                 \n                        <p><strong>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                        \n                        \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Total bids received for treasury bills auction in November 2024 was estimated at GH\u00a221.5 billion. This fell short of the government\u2019s gross target of GH\u00a222.8 billion. The government allotted all bids to exceed the refinancing obligation by 8.3%. However, it fell short of the target by 5.5% with a sustained risk of the uncovered auction [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":271157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-271156","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>T-bills auction: Government got GH\u00a221.5bn in November 2024, lower than target - 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\/2024\/12\/26\/t-bills-auction-government-got-gh\u00a221-5bn-in-november-2024-lower-than-target\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T-bills auction: Government got GH\u00a221.5bn in November 2024, lower than target - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Total bids received for treasury bills auction in November 2024 was estimated at GH\u00a221.5 billion. This fell short of the government\u2019s gross target of GH\u00a222.8 billion. The government allotted all bids to exceed the refinancing obligation by 8.3%. However, it fell short of the target by 5.5% with a sustained risk of the uncovered auction [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/12\/26\/t-bills-auction-government-got-gh\u00a221-5bn-in-november-2024-lower-than-target\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-26T22:36:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/12\/treasury-bills.png\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"496\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"T-bills auction: Government got GH\u00a221.5bn in November 2024, lower than target\",\"datePublished\":\"2024-12-26T22:36:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/\"},\"wordCount\":233,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/treasury-bills.png\",\"articleSection\":[\"Top News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/12\\\/26\\\/t-bills-auction-government-got-gh%c2%a221-5bn-in-november-2024-lower-than-target\\\/\",\"name\":\"T-bills auction: Government got GH\u00a221.5bn in November 2024, lower than target - 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