oversubscription

Investor interest in Treasury securities inched up significantly despite the expected announcement of a debt restructuring programme by the government. Government treasury bills sales grew by 49.3% week-on-week, as it got ¢2.76 billion during the last auction Thursday, December 2, 2022. This is the third week running that the government T-bills have been oversubscribed. Following the announcement of ‘haircut’ for government bonds, investors are now migrating to short-term securities, hence the growing interest. For the first time in several months, the 182-day T bills also recorded huge participation as bids tendered were estimated at ¢519.87 million. ¢502.01 million was however…