T-bill yields inch up in first post-repatriation mechanism auction
The first post-repatriation mechanism auction on Thursday saw yields of 6-month and 12-month T-bills rise by 2bps each. The shorter maturity yields averaged 19.980%, while the longer one averaged 19.977%. The 12-month tenor saw significantly more interest than the 6-month one, as bid to cover was almost double that in 6 months, at 2x and 1x, respectively. In terms of rates, both 6-month and 12-month T-bills saw weighted average rates inching towards the 20% mark and the skew of accepted bids was heavily towards 19.99%.
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