Yields of Cypriot domestic bonds continued to rise in February

10:08 - 22 February 2023

Economy Financial Services

The yields from the Republic of Cyprus’ short-term domestic bonds rose anew in February, fuelled by the global tightening of monetary policy on the backdrop of rising inflation.

According to a press release by the Finance Ministry’s Public Debt Management Office (PDMO), during the 13 Week Treasury Bills Auction on February 20, bids totalling €81.65 million were submitted, of which €47.65 million total nominal value have been accepted with a weighted average yield of 2.96%.

The accepted yields ranged from 2.90% to 3.00%, the PDMO added.

Compared with the January auction, weighted average yields rose by 26 basis points. Yields for the 13-week T-bills have been on an upward trajectory since June 2022.

T-Bills are one of the short-term financing tools used by the Ministry for domestic investors, mainly banks.

(Source: CNA)

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