GCB Capital Research has disclosed that the forthcoming T-bill auction scheduled for Friday, November 3, 2023, is set to target a gross issuance of GH¢2.15 billion, reflecting a slight decline of 3.84% week-on-week.
The issuance will encompass various treasury bill tenures ranging from 91-day to 364-day maturities, strategically structured to address a refinancing obligation estimated at GH¢2 billion.
Notably, despite the reduction in the target size for the upcoming auction, there is an expectation of robust demand in the market.
The firm demand for these short-term instruments is expected to result in oversubscription, provided all other factors remain constant.
This anticipation of robust demand, alongside stable clearing yields, underscores the continued appeal of T-bills in the investment landscape.