Treasury bill yields rise as demand dips

The average weighted yield on Kenya’s 91-day Treasury bill rose to 8.571 per cent on Wednesday from 8.513 per cent previous week, the Central Bank of Kenya said, at an auction that saw low demand for debt from investors. The yield on the six months Treasury bills rose to 9.855 per cent from 9.517 per cent the previous week, while weighted average yield on the one-year paper edges up to 10.575 per cent from 10.388, the bank said in a statement. The bank said it received bids worth Sh767 million ($8.48 million) for Sh3 billion worth of 91-day paper on offer and accepted all the bids. The bank had offered Sh9 billion for both the 182-day and 364-day Treasury bonds, and received bids worth a total of Sh3.819 billion. It accepted bids worth a total of Sh2.894 billion for the two papers. The bank will auction Sh3 billion worth of debt for the 91-day paper, Sh4 billion for the 182-Treasury bills and Sh5 billion for the 364-day paper this week.

 —Reuters