The government is under no borrowing pressure at this point of the financial year, having already borrowed Sh282.1 billion in from the domestic market against a target of Sh268.7 billion. The Treasury rejected bids worth Sh23.3 billion from investors who had bid Sh44.6 billion in last week’s auction. The Treasury accepted bids worth Sh21.3 billion, matching the redemptions of Sh21.4 billion. The 91-day paper received bids worth Sh9.2 billion against an offer of Sh4 billion. The 364-day paper attracted bids worth Sh23.7 billion against an offer of Sh10bn, with the Treasury accepting only Sh8.4bn from investors.

Source: Daily Nation June 03, 2018 16:30 UTC