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T-Bills End The Month Of August In The Red: Is There Hope For September?

BY Juma · September 7, 2020 08:09 am

The month of August saw T-Bills finishing in the red with the subscription rate coming in at 80.1 percent.

The average subscription for the month of August was a drastic drop from 243.1 percent recorded during the month of July.

During the month, the subscription rate for the 91, 182, and 364-day papers came in at 137.8, 64.9, and 72.9 percent respectively.

The subscription of the three papers was a huge drop from 574.7, 137.5, and 216.0 percent respectively.

According to a report by Cytonn Investments, the yields for 91, 182 and 364-day papers remained unchanged during the month of August at 6.2, 6.6, and 7.5 percent respectively.

The acceptance rate for the T-Bills during the month of August rose to 90.4 percent from 66.9 percent recorded in July.

During the same month, the government of Kenya accepted 69.5 billion shillings of the 76.9 billion shillings worth of bids received.

During the week, T-Bills kicked off the month of September in the red with the subscription rate coming in at 49.6 percent, among the lowest subscription so far. This was a drop from 52.3 percent that was recorded the previous week.

The subscription for last week was dismal despite the liquidity in the money market remaining high.

During the week, the subscription rate for the 91, and 182-day papers declined to 68.5 and 31.6 percent respectively. The rate for the 364-day papers increased to 60.0 percent.

The acceptance rate for the T-Bills during the week increased to 91.8 percent from 85.4 percent recorded the previous week. The yields on the 91 and 182-day papers remained unchanged during the week coming in at 6.3 and 6.6 percent respectively.

The T-Bills were lower for the whole month of August even as cases of Covid-19 across the country seem to be reducing. On Sunday, the Ministry of Health announced just 83 confirmed cases of Covid-19 with the World Health Organisation warning the government against the relaxation of rules and failure to test for the cases.

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. (020) 528 0222 or Email: info@sokodirectory.com

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