T-bills steady

Press, 29 January 1986, Page 36

T-bills steady

PA Wellington Interest rates on Treasury bills appeared little changed at yesterday’s SIOOM tender. The. offering of SSOM of seven-day bills and SSOM of 49-day bills was heavily subscribed, with SIBSM bid for the short-dated bills and SI97M bid for the others.

Yesterday’s average rate of 14.1 per cent on seven-day bills was up on the 13.7 per cent paid for elght-day bills on Thursday. But money market dealers said such shortdated bills generally reflected on-call Interest rates, which tended to be volatile.

Last Thursday on-call rates were low, around 11 per cent Yesterday they were around 17.5 per cent.

Yesterday’s average rate of 18.08 per cent for 49-day bills can be compared with 17.05 per cent

for 21-day bills at last week's tender or with 18.35 per cent for 35-day bills at the January 7 tender. Bills at seven days: Offered, SSOM; bid, 5185 M; sold, SSOM; successful yields, 13.88 per cent to 14.44 per cent; weighted average, 14.132; unsuccessful bids, 14.98 to 18.80. Bills at 49 days: Offered, SSOM; bid, SI97M; sold, SSOM; successful yields, 17.80 per cent to 18.23 per cent; weighted average, 18.081; unsuccessful bids, 18.23 to 20.79.