The Central Bank of Kenya (CBK) received bids worth Sh37.19 billion against an offer of Sh24 billion.
This represented an overall subscription rate of 154.97 per cent, compared to 155.8 per cent recorded during the previous week’s auction.
The subscription rates for the 91-, 182-, and 364-day papers came in at 96.12 per cent, 149.68 per cent and 183.79 per cent respectively
Treasury bills were oversubscribed in last week’s auction with liquidity supporting the performance.
The Central Bank of Kenya (CBK) received bids worth Sh37.19 billion against an offer of Sh24 billion.
This represented an overall subscription rate of 154.97 per cent, compared to 155.8 per cent recorded during the previous week’s auction.
The subscription rates for the 91-, 182-, and 364-day papers came in at 96.12 per cent, 149.68 per cent and 183.79 per cent respectively.
Yields on the paper came in at 8.026 per cent (91-day), 10.385 per cent (182-day) and 11.128 per cent (364-day).
“The 91-day paper was the least subscribed tenor and with a 0.7 basis points (bps) differential between the market weighted average accepted rate and weighted average rate of accepted bids, we believe there are investors who are seeking slightly higher yields than what the CBK is comfortable with,” said analysts from Genghis Capital in an email response.
