Cyprus domestic bonds yields show signs of stabilisation in July

12:01 - 25 July 2023

Economy Reporter

Cypriot short-term domestic bonds yields showed signs of stabilisation in July, with the weighted average yield reaching 3.64% compared with 3.61% in the previous month.

According to the Public Debt Management Office (PDMO) during the 24 July 13 Week Treasury Bills (T-bills) Auction, tenders for a total amount of €65.65 million were submitted, out of which, €11.15 mn total nominal value have been accepted with a weighted average yield of 3.64%.

The accepted yields ranged from 3.60% to 3.74%, the PDMO added.

Offers in July were reduced compared with the previous auction in June, during which offers amounted to €95.2 million were submitted.

Since the beginning of the year, T-bills yields show an increase of 94 basis points and have been steadily rising approaching the levels of the ECB rate which currently stands at 4%.

T-bills are one of the Republic’s short-term borrowing instruments and are being rolled-over by domestic investors, mainly, banks and insurance companies.

(Source: CNA)

Cyprus domestic bonds yields show signs of stabilisation in July

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