During last week’s sale, the Treasury bills were oversubscribed with the CBK getting bids of Sh25.12 billion against an offer of Sh24 billion.
Improved liquidity coupled with a dearth of short-end primary bond issues has seen a rebound in Treasury bill performance in recent auctions.
During last week’s sale, the Treasury bills were oversubscribed with the Central Bank of Kenya (CBK) getting bids of Sh25.12 billion against an offer of Sh24 billion.
This was the second consecutive auction where yields on all the tenors declined.
“Treasury bills performance recorded an overall 104.68 per cent subscription. The 182-day tenor recorded an under-subscription at 84.26 per cent, which we view as just investors’ preference for the other two tenors,” said analysts from Genghis Capital on Friday.
The subscription rates for the 91-, 182-, and 364-day papers came in at 124.17 per cent, 84.26 per cent, and 117.32 per cent respectively.