NAIROBI: Yields on Kenya's Treasury bills are expected to rise slightly at next week's sale, taking a cue from yields on a two-year bond sold this week. The central bank will auction 91-day, 182-day and 364-day Treasury bills worth a total 12 billion shillings ($132.89 million). "I think there is room for rates to go higher.
The two-year bond came up a bit higher so it shows the government can pick at a better rate," Fred Moturi, fixed income trader at Sterling Investment Bank, said.
At this week's auction, the weighted average yield on 91-day Treasury bills dipped to 8.513 percent from 8.595 percent last week, the central bank said.
The yield on the 364-day bill was unchanged at 10.388 percent, while that on the 182-day paper rose to 9.517 percent from 9.450 percent.
The yield on the 2-year Treasury bond rose to 10.890 percent at this week's sale from 10.764 percent at the last sale in July.
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