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T-Bill Demand Dips at Auction

SOUTH AFRICA

Auction Results

  • 1bn (888m) Rand 91-day Bills; Bid-Cover 1.47x, Avg yield 3.74% (3.63%)
  • 2.7bn (2.81bn) Rand 182-day Bills; Bid-Cover 2.96x (3.51x), Avg yield 4.35% (4.39%)
  • 3.8bn (3.8bn) Rand 273-day Bills; Bid-Cover 1.2x (2.83x), Avg yield 4.74% (4.63%)
  • 4.2bn (4.2bn) Rand 364-day Bills; Bid-Cover 1.18x (1.33x), Avg yield 4.79% (4.73%)

    Similar to linkers, demand seen lower in T-Bills across the breadth of the auction. Slight uptick in 91-day allotment, but offset by reduction in 182s.
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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