Thursday’s Treasury bill (T/bill) auction attracted K464 million in bids with K386 million being allocated:
The auction was undersubscribed by 49%, with investors showing a lack of appetite to hold T/bills in any tenure other than the 364 days bill. The 364 days instrument again attracted the most capital with a subscription rate of 97%.
Yields in the 90, 182 and 273 days T/bills showed signs of stabilizing but the 364 days bill rose 1.1% from the previous auction:
In terms of market sentiment, there has been some positive news on 3 fronts:
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *