By MAIMBOLWA MULIKELELA –
THE treasury bills auction that took place on Thursday last week was poorly subscribed, with bids amounting to K409 million and a total of K341 million allocated.
According to Zanaco treasury newsletter, the fortnightly K900 million treasury bills auction was poorly sub- scribed, with bids amounting to K409 million and a total of K341 million allocated.
The report indicated that the yield rates generally remained unchanged except for a slight drop on the 182-day rate from 23.97 per cent to 23.90 per cent.
It stated that the market liquidity remained high on Thursday at K1 815.37 million from the previous day’s K1 554.01 million and the volume of traded funds increased to K156.50 million from K125 million.
The report indicated that the weighted average overnight interbank rate remained unchanged at 16.10 per cent.
On the other hand, First National Bank (FNB) daily newsletter indicated that there were no noticeable changes in the yields in Thursday’s Treasury bills auction although subscription was low possibly from reduced bank’s excess liquidity after the heavy bids bond auction last week.
“We are slowly beginning to see a build-up of interest in the fixed income market,” FNB stated.
