T-bill yields continue their decline; 6-month yield down 129bps

The Treasury bill yields continue their decline this week, after a substantial plunge last week, following a 250-basis-point policy rate cut by the Central Bank.
At yesterday’s bill auction, the Public Debt Department (PDD) of the Central Bank raised Rs.180 billion for the government by offering the same amount in three-month, six-month and 12-month 
tenure bills.
The PDD offered Rs.70 billion in three-month bills and accepted Rs.61.2 billion. The three-month bill yield fell five basis points from the last auction to 23.16 percent.

The six-month bill yield fell the most by 129 basis points to 20.61 percent. The PDD offered Rs.60 billion in six-month bills and raised Rs.68.7 billion.
The 12-month bill yields fell 102 basis points to 18.08 percent and the PDD offered and raised Rs.50 billion under that tenure. The bill auction received over Rs.379.5 billion worth of bids.