The Central Bank of Kenya (CBK) Treasury Bills auction received KES 13.38 billion in bids against an offer of KES 24.00 billion, translating to an overall subscription rate of 57.4%, slightly down from 58.3% in the previous week.
The 91-day paper was heavily oversubscribed, posting a subscription rate of 230.9%, up sharply from 64.5% in the prior week. The paper attracted bids worth KES 9.24 billion against an offer of KES 4.00 billion.
Investor appetite for the 182-day paper waned significantly, with the paper attracting only KES 858.7 million against an offer of KES 10.00 billion, representing a subscription rate of 8.6%, down sharply from 76.7%, recorded in the previous week.
Meanwhile, the 364-day bill posted a subscription rate of 36.8%. The paper attracted KES 3.68 billion in bids, against a targeted amount of KES 10.00 billion.
The CBK accepted KES 13.78 billion, translating to a 100% acceptance rate.
CBK T-Bills Yields
Yields recorded mixed performance across the tenors. Yields on the 91-day paper rose the most, increasing by 35.53 basis points to 7.7794% from 7.4241% in the previous week. Yields on the 182-day bill edged higher by 5.72 basis points to 7.8867%. Conversely, yields on the 364-day tenor declined marginally by 0.13 basis points to 8.2710%.
