The yields from the Republic of Cyprus’ short-term domestic bonds rose anew in February, fuelled by the global tightening of monetary policy on the backdrop of rising inflation.
According to a press release by the Finance Ministry’s Public Debt Management Office (PDMO), during the 13 Week Treasury Bills Auction on February 20, bids totalling €81.65 million were submitted, of which €47.65 million total nominal value have been accepted with a weighted average yield of 2.96%.
The accepted yields ranged from 2.90% to 3.00%, the PDMO added.
Compared with the January auction, weighted average yields rose by 26 basis points. Yields for the 13-week T-bills have been on an upward trajectory since June 2022.
T-Bills are one of the short-term financing tools used by the Ministry for domestic investors, mainly banks.
(Source: CNA)
