KARACHI: The State Bank of Pakistan (SBP) conducted the auction for T-bills on Wednesday and raised Rs 397 billion against a target of Rs 150 billion.

Significant declines were observed in auction cut-off yields across all tenors, with reductions ranging from 74bps to 148bps.

The 3-month cut-off rate dropped by 148bps to 17.49 percent, while the 6-month rate decreased by 101bps to 17.74 percent. The 12-month cut-off rate also fell by 74bps to 16.9999 percent.

The investor interest surged, with total participation reaching Rs 1.2 trillion, particularly concentrated in the 6-month tenor.

This strong participation indicates that investors are keen to lock in favorable yields ahead of anticipated rate cuts, analysts said.

Copyright Business Recorder, 2024

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