Yields drop to record low as government sells €40m in 30-day t-bills

The government sold a total of €50m in 30-day treasury bills at an average yield of 0.51% on 10 November 2015, the public debt management office said.

The subscription to the issue was €297.6m or six times the amount of securities offered, the PDMO, a division of the finance ministry, said in an emailed statement.

On October 8, the last time the government sold a total of €28.7m of this type of security, the average yield was 1.23%.

A person with knowledge of the situation said that yields of the 30-day treasury bills to a record low reflects the increased interest of Cypriot investors, which they expressed in the increased subscription, as well as the government’s decision to reduce its treasury bill issues earlier this year.

Source: Cyprus Mail

Cyprus Profile

articles | 10 November 2015