T-bill auction: The government borrowed $4.08 billion in the most recent auction for 2023.

Tomorrow, December 29, 2023, the government will borrow $4.08 billion on the treasury market.This will be accomplished by issuing 91-day, 182-day, and 364-day bills.The uptake will be used to partially refinance estimated maturities of 2.55 billion.

The target and refinancing obligation will differ by 1.53 billion, indicating the government’s need for funds to support its budget.

T-bill yields are expected to rise this week, according to analysts.

With total bids of $3.58 billion, investors participated heavily in last week’s Treasury bill auction. This was 38% higher than the gross target.The government raised $3.57 billion in treasury bills.

Money market yields ended the auction higher as the government sought to raise new funds for budgetary support.

Yields on the 91-day and 182-day tenors rose by 31 and 81 basis points, to 29.36% and 31.95%, respectively. The 364-day yield remained constant at 32.49%.

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By surojit

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