Kenya T-Bills Draw US$1.4 Billion as Investors Bet on Rates

Africa · Eastern Key Facts —Cumulative demand. Investors placed roughly Sh181bn ($1.17bn) into 91-day Treasury bills across a cluster of recent weekly auctions. —Oversubscription surge. A single auction drew KSh32.8bn in 91-day bids against a KSh4bn offer, an oversubscription of 820%. —Yield reversal. The 91-day rate rose for five straight auctions to 8.32% by mid-May…