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R11.7bn in T-Bills Sold at Auction, Demand Slips for 182s

SOUTH AFRICA

Auction Results:

  • Sells R1B (1bn) 91-day Bills; Bid-Cover 2.08x (1.47x), Avg yield 3.76% (3.74%)
  • Sells R3.511B (2.7bn) 182-day Bills; Bid-Cover 2.22x (2.96x), Avg yield 4.35% (4.35%)
  • Sells R3.8B (3.8bn) 273-day Bills; Bid-Cover 1.74x (1.2x), Avg yield 4.79% (4.74%)
  • Sells R3.389B (4.2bn) 364-day Bills; Bid-Cover 1.47x (1.18x), Avg yield 4.88% (4.79%)

Demand seen mixed to slightly higher across the auction, with 182s the laggard. Auction size remained constant w/w at R11.7bn. Notable uptick in 91s & 273s but rather subdued bid-covers across the board.

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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