Investors continue to shun 182, 364-days T-Bills despite hiked rates

Investors continued to shun the 182-day and 364-day Treasury Bills (T-Bills) last week, maintaining a trend that has persisted since January, despite interest rates edging upwards.

Both securities attracted low subscription at the auction, performing at 19.9% and 23.4% respectively, with interest at 11.86% for the 182-day, and 11.93% for the 364-day.

This under-performance is driven by string market expectations that interest rates will continue to rise. 

Investors will be keenly watching today’s Monetary Policy Committee meeting to see if the new leadership at the Central Bank will maintain the tight monetary policy of his predecessor.

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