maturities

Government is expected to raise ¢1.49 billion this week to refinance the upcoming Treasury bills maturities of ¢1.37 billion. This follows a narrow miss of its target last week. The government raised ¢1.81 billion last week against a target of ¢1.87 billion, about 96.81% of the auction target. The uptake, however, exceeded the refinancing obligation. The T-bill curve continued to flatten as the yield on the 182-day was 35.98%, while interest on the 364-day stood at 35.89%. The 91-day bill, however, cleared at 35.36%. Analysts expect T-bill yields to decline as an expected IMF support-programme in the first quarter of…