Cyprus Mail

Yields drop to historic low as government sells €100m in 13-week t-bills

By Stelios Orphanides

The government sold on Monday a total of €100m in 13-weeks treasury bills at an average yield of 0.17 per cent, which is the lowest ever for this type of security, the Public Debt Management Office said.

The issue was almost four times over-subscribed with total bids submitted amounting at €397.4m, the PDMO, a unit of the finance ministry said in an emailed statement.

The highest yield of the offers accepted was 0.21 per cent, the PDMO said.

On October 31, the government sold also €100m of 13-weeks treasury bills at an average yield of 0.31 per cent.

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