In this week’s Treasury Bills auction, the Central Bank of Kenya (CBK) received KES 13.995 billion in bids against an offer of KES 24.00 billion, translating to an overall subscription rate of 58.3%. This marked a reversal from the previous week, when the auction was oversubscribed by 2.3%.
Across tenors, demand was concentrated on the 182-day paper, which recorded a subscription rate of 76.7% after receiving KES 7.67 billion in bids against a target of KES 10.00 billion.
The 91-day paper followed, posting a subscription rate of 64.5%, down sharply from 199.4% in the previous week. The tenor received KES 2.58 billion in bids against an offer of KES 4.00 billion.
The 364-day paper recorded weaker demand, attracting bids worth KES 3.75 billion against an offer of KES 10.00 billion, translating to a subscription rate of 37.5%, down from 57.2% in the previous week.
The CBK accepted KES 13.97 billion, representing an acceptance rate of 99.8%.
CBK T-Bills Yields Edge Upward
Yields across tenors rose marginally compared to the previous week. Yields on the 91-day paper increased the most, rising by 2.41 bps to 7.4241%, followed by the 364-day paper, which rose by 0.23 bps to 8.2723%. Yields on the 182-day paper stood at 7.8295%, up 0.02 bps from 7.8293% in the previous auction.
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