Treasury Rates for November 2nd 2020

Security	Interest Rates
91 – Day Bill	14.0595%
182 – Day Bill	14.0970%
364 – Day Bill	16.9700%

As investors continue to take solace in Treasury assets, short-term Government of Ghana Treasury bill rates posted a mixed performance this week. The yields on both the 182-day and the 364-day bills both tumbled in line with the marginal drop in consumer price readings for September.

The 91-day bill was little changed this week as it rose marginally from 14.0552% posted last week to 14.0595% this week.

The 182-day bill after a brief recovery last week lost traction as it weakened by 2 basis points (bps) to erase part of previous week’s 3 bps gain. It declined from 14.1177% posted last week to 14.0970% this week.

The yield on the 364-day bill lost 3 bps this week erasing part of previous issuance’s 2 bps gain. It fell to 16.9700% this week from 16.9974% at its last issuance.

Week-on-Week Changes for 2^nd November, 2020

	26-Oct-20	2-Nov-20	CHANGE	PERCENTAGE CHANGE
91 – Day	14.0552%	14.0595%	0.00	0.0306%
182 – Day	14.1177%	14.0970%	-0.02	-0.1466%

Auction results from Bank of Ghana (BoG) tender 1718 further showed a continuous rise in demand for the government’s assets as demand rose this week to beat the government’s target amount after weeks of strong demand despite expectations of easing consumer prices.

A total of GHC 838.06 million bids were tendered for the 91-day, 182-day, and 364-day bills against the government’s target amount of GHC 709.00 million. The government accepted all bids tendered.

Next week, the government will be expected to increase its intended target amount to raise a total of GHC 1,043.00 million from 91-day, 182-day and 364-day bills.