€100m in T-bills sold at -0.27%, PDMO says

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By Stelios Orphanides

The government has sold €100m in 13-weeks treasury bills on Friday at an average yield of minus 0.27 per cent, the lowest ever, the Public Debt Management Office (PDMO), said.

The issue was to 48 per cent oversubscribed with competitive bids amounting at €110m and non-competitive bids at €38m, the PDMO, a branch of the Ministry of Finance said on its website.

In the previous auction on April 30, the average yield was minus 0.26 per cent.

A market participant who spoke on condition of anonymity said that the downward trend in yields is related to the lack of options for Cypriot banks to utilise their liquidity.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • Eye on Cyprus

    Luckily, there’s one born every minute and some of them have bought Cyprus Treasury Bills at a negative yield.

    • People just need to park cash right ? But it does seem insane.

  • Mist

    Was this a laundering operation? Who selected the lucky winners?