Finance

Government to raise ¢2.06bn in this week’s T-bill auction

Government will seek to raise ¢2.06 billion in this week’s Treasury bill auction to refinance the upcoming T-bill maturities of ¢1.711 billion.

This is coming after it fell short of the auction target for the fourth successive week.

The government raked in ¢1.24bn in last week’s T-bill auction target, covering 94% of the auction target and exceeding the T-bill refinancing obligation by 16.44%.

The auction saw improved demand compared to the previous week’s auction (62.40% target coverage).

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%.

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.

They anticipate that the recent increment in fuel prices and transport fares will exert upward pressure on headline inflation.

Trading activity on secondary market slows down

Last week, trading activity on the secondary market slowed down as tight liquidity conditions constrained demand.

Total face traded amounted to ¢3.58 billion, reflecting a 23.87% week-on-week decline.

Bid yields were quoted around 37% to 42%. Yields remained broadly stable on the market.

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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.

 

Source: MyJoyOnline.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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