The performance of government securities auctions in the primary market recorded mixed results in November last year, with investors’ preference remaining skewed towards instruments with longer maturities.
According to the Bank of Tanzania (BoT) Monthly Economic Review for December 2022, two Treasury bills auctions were conducted in November 2022, with a combined tender size of 354.9bn/- for government budgetary operations and liquidity management.
The auctions attracted bids amounting 175.1bn/-, out of which 168.4bn/- were successful.
Weighted average yield increased to an average of 5.60 per cent from 4.95 per cent recorded in the preceding month.
In November last year, the Central Bank conducted three Treasury bond auctions with maturity of 7-, 15- and 20-year for government budgetary operations with the combined tender size of 396.9bn/-
“The 7- and 15-year Treasury bonds were undersubscribed while 20-year Treasury bond was oversubscribed,” the report said.
Total bids received amounted to 274.7bn/- , of which 274bn/- were successful. Yields to maturity increased to12.23 percent and 9.71 percent for 20- and 7-year Treasury bonds, respectively while that of 15-year bond decreased slightly to 11.20 percent
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