treasury market

The government’s heavy borrowing on the treasury market triggered another marginal under-subscription of Treasury bills sales by about 7.21%, as interest rates continued to surge. This is the third week running that the government has failed to meet its T-bills target because of the heavy borrowing on the financial market. The government was looking to rope in ¢3.43 billion cedis, but got about ¢3.18 billion. According to the auction results, it received bids of about ¢2.03 billion from investors for the 91-day T-bill, which it accepted about 99% of the bids. It also accepted about 99% of the bids tendered…