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Cyprus

Government sells €100m in 13-weeks t-bills at -0.4%

The government sold a total of €100m in 13-weeks treasury bills on Tuesday with yields reaching -0.4 per cent, a new all-time low as the downward trend continues, the Public Debt Management Office said.

Total subscriptions amounted to €313m, which included a total of €208m in competitive bids, the PDMO said in an emailed statement on Tuesday.

It is the second time that the government sold this type of security at a negative yield. The previous time the government issued 13-weeks treasury bills, it was on January 30, when it again sold €100m of treasury bills at an average yield of -0.1 per cent.

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