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Demand Tapers Off in T-Bills, Save for 364s

SOUTH AFRICA

T-Bill Auction Results

  • 1.4 Billion Rand 92-day Bills; Bid-Cover 1.23x, Avg Yield 3.86%
  • 3.07B Rand 182-day Bills; Bid-Cover 1.52x (1.73x), Avg yield 4.56% (4.42%)
  • 4.04B Rand 273-day Bills; Bid-Cover 3.22x (3.34x), Avg yield 4.79% (4.78%)
  • 4.44B Rand 364-day Bills; Bid-Cover 2.16x (1.4x), Avg yield 4.9% (4.87%)

Slightly weaker auction overall outside of a decent uptick in demand for 364s. Higher yields indicative of weaker EM FI sentiment.

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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