T-bills hit 16-month high

The 91-day T-bill yesterday hit a 16-month high of 7.95 percent at the weekly auction.

The 3-month rates have surged up 44 basis points to 7.95% and 12-month up by 91 basis points from two weeks prompting analysts to hint investors could be seeing debt more attractive than equities.

“It is logical to expect the bourse to dip further as the bond markets looks more attractive and safer. But the liquidity and the certainty in the bond market is to be watched after the devaluation of the currency,” Arrenga Capital said yesterday.