The Central Bank of Kenya (CBK) Treasury Bills auction in week 21 was oversubscribed for the third week in a row.
The CBK attracted bids worth KES 30.05 billion against a total offer of KES 24.00 billion, translating to an overall subscription rate of 125.2%, up from 110.0% recorded in the previous week.
Demand was heavily concentrated on the 91-day paper. The tenor received bids worth KES 11.95 billion against an offer of KES 4.00 billion, representing a subscription rate of 396.6%, up from a subscription rate of 183.1%, in the preceding week.
Investor appetite for the 182-day paper waned, with the paper receiving bids amounting to KES 8.39 billion, against an offer KES 10.00 billion, representing a subscription rate of 83.9%, compared to a performance rate of 78.48% in last week’s auction.
Meanwhile, the 364-day paper recorded a subscription rate of 112.4% after receiving bids worth KES 11.24 billion, against an offer of KES 10.00 billion.
The CBK accepted KES 26.38 billion
Yields across all tenors trended upward. The 91-day paper recorded the sharpest increase, with its yield rising by 6.89 basis points to 8.3865%. Yields on the 182-day paper and 364-day paper rose by 0.1 bps and 2.5bps, to 8.211% and 8.5881%, respectively.
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