Weekly GoG Treasury Bills News Report – Week 24 [June 15, 2026]

Security	Interest Rates
91 – Day Bill	5.0423%
182 – Day Bill	7.0804%
364 – Day Bill	10.9761%

Treasury bill rates came in mixed this week as the 91-day and the 364-day bills saw increases, whilst the 182-day bill saw its first decline over the past three weeks. This week’s Treasury yields performance hints at a probable lack of clear direction for yields, as growing concerns about higher inflation numbers appear to be waning off after a breakthrough peace accord between the US and Iran electrified global markets and a collapse in crude prices alleviated nagging inflationary pressures. The recent development, if sustained, is expected to keep Treasury yields over the short term relatively stable.

The 91-day bill edged up by 3 basis points (bps) to extend its total accumulations in the month to 128 bps. It cleared at 5.0423% this week, up from 5.0116% posted last week.

Having recorded a 5 bps increase last week, the yield on the 182-day bill failed to keep up the momentum as it dropped by a basis point this week. It moved down from 7.0948% last week to 7.0804% this week.

The yield on the 364-day continued to register relatively bigger margins of increase, soaring by 14 bps to build on last week’s 38 bps increase. It rose from 10.8388% posted last week to clear at 10.9761% this week.

Week-on-Week Change

Tenor	Previous	Current	w-o-w Change	w-o-w Change (%)	Year-to-Date
91 – Day	5.0116%	5.0423%	0.03	0.61%	-54.64%
182 – Day	7.0948%	7.0804%	-0.01	-0.20%	-43.59%
364 – Day	10.8388%	10.9761%	0.14	1.27%	-15.13%

The auction results of Tender 2011 revealed that investors paid less attention to the calm that is expected to hit consumer prices, as fuel and transport costs are anticipated to undergo a bit of a decline, as they once again, for the second time in a row, renewed their interest in the government’s Treasury assets. Consequently, the government’s target was oversubscribed by 13.62%.

A total of GHS 8,436.28 million worth of bids were tendered for the 91, 182, and 364 tenors against the government’s target amount of GHS 7,425.00 million. The government took advantage of the relatively lower cost of the 91-day to accept all GHS 6,036.91 million worth of bids tendered but went ahead to accept 94.55% and 93.66% of the total GHS 1,101.00 million and GHS 1,298.57 million worth of bids tendered for its 182-day and 364-day bills, respectively.

In the week ahead, we expect the government to return to the domestic market in an attempt to mobilize GHS 5.27 billion from 91-day, 182-day, and 364-day bills to meet GHS 3.38 billion worth of maturing papers due next week.