T-Bill Cut-Off Yields Rise by Up to 5 BPS
Description:
In the paper auction held on Wednesday, the cut-off yields on T - bills (T-Bills) increased by 5 basis points (bps).
The government raised Rs. 828 billion at the auction, surpassing its original target of Rs. 550 billion and maturity of Rs. 429 billion, according to data made public by the State Bank of Pakistan (SBP).
According to official data, the three-month T-bill cut-off yield increased by 5 basis points to 15.7949 percent from the 15.7478 percent recorded on August 10. Similarly, while yields on the 12-month paper stayed steady, proceeds for the six-month issue jumped by 5 basis points to 15.8497 percent from 15.8000 percent.
In the competitive auction, the government raised Rs. 567 billion versus a target of Rs. 150 billion for the three-month paper and Rs. 43 billion versus a target of Rs. 200 billion for the six-month note. Additionally, it raised Rs 170 billion through the 12-month bonds during the auction, falling short of its objective of Rs 200 billion.
