According to the GDPR, acceptances ranged between 3.32% and 3.35%
The yields of the domestic bonds issued by the Republic continued their upward trend, reflecting the upward trend of the key interest rates of the central banks worldwide in the wake of high inflation.
According to the Public Debt Management Office, the 13-week Treasury Bill auction, held on May 22, saw bids of a total face value of €25 million accepted at a weighted average yield of 3.43%, compared to 3.33% at issue of the previous month, continuing the path of convergence with the main lending rate of the European Central Bank (3.75%).
Demand remained at high levels, after offers of €90 million were received compared to offers €99 million in the April issue.
According to the GDRX, the acceptances ranged between 3.32% and 3.35%.
Compared to the beginning of the year, the Treasury Bills yields show an increase of 73 basis points, while yields are on an upward trajectory from June 2022.
T-Bills are short-term borrowings and are one of the domestic financial instruments of the Republic of Cyprus and are usually renewed from domestic investors, mainly insurance companies and banks.
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