07/05/2026
This week, T-bills were oversubscribed for the first time in four weeks, with the overall subscription rate coming in at 122.6%, higher than the subscription rate of 77.0%, recorded the previous week.
Investors’ preference for the shorter 91-day paper persisted, with the paper receiving bids worth 9.7 bn against the offered Kshs 4.0 bn, translating to a subscription rate of 243.5%, higher than the subscription rate of 200.6% recorded the previous week.
The subscription rate for the 182-day paper increased significantly to 145.2% from 32.6% recorded the previous week, while that of the 364-day paper decreased to 51.6% from 71.9% recorded the previous week.
The government accepted a total of Kshs 29.41 bn worth of bids out of Kshs 29.42 bn bids received, translating to an acceptance rate of 99.98%.
The yields on the government papers showed mixed performance, with the yields on the 91-day paper increasing the most by 15.0 bps to 8.2% from the 8.0% recorded the previous week. The yields on the 364-day paper also increased by 0.1 bps to remain relatively unchanged from the 8.5% recorded the previous week, while the yields on the 182-day paper decreased by 0.2 bps to remain relatively unchanged from the 8.2% recorded the previous week.
