Slovenia T-bill auction oversubscribed, yields remain negative

LJUBLJANA: Slovenia sold 94 million euros ($105.28 million) of treasury bills at an auction on Tuesday, close to an initial target of 90 million euros, at yields that were barely changed from the previous month, the finance ministry said.

It sold 57 million euros of six-month bills at a yield of minus 0.39% versus minus 0.37% last month. It also sold 37 million euros of three-month bills at minus 0.39% versus minus 0.38% last month.

Total bids amounted to 224 million euros. The next T-bill auction is due on Sept. 10.

Analysts said yields will remain negative in the coming months, mostly due to the expansive monetary policy of the European Central Bank.