{"id":14975,"date":"2020-09-09T16:57:53","date_gmt":"2020-09-09T16:57:53","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=14975"},"modified":"2020-09-09T16:57:53","modified_gmt":"2020-09-09T16:57:53","slug":"oversubscription-awaits-15-year-bond","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond","title":{"rendered":"OVERSUBSCRIPTION AWAITS 15-YEAR BOND"},"content":{"rendered":"

Author: <\/i>ABDUEL ELINAZA<\/strong>
\nAfricaPress-Tanzania:<\/strong> THE 15-year Treasury bond is expected to be oversubscribed today, but debt analysts remain wary as yields are getting lower to the resistance level.<\/p>\n

The analysts, however, cautioned that the yield level may derail the oversubscription level if it continues to decline.<\/p>\n

The central bank, today at the auction, wants to raise 122bn\/- at a fixed rate of 13.50 per cent per year.<\/p>\n

Tanzania Securities said the bond yield curve is expected to continue to remain normal, with downward movements in the weighted average yields.<\/p>\n

\u201cWe may see oversubscription of the Treasury bond,\u201d Tanzania Securities said in its weekly market blast yesterday adding: \u201c\u2026But we remain wary as yields are getting lower to the resistance level, this is going to affect the subscription level if the yields will continue to decline.\u201d<\/p>\n

On a quarterly basis in three months to June, all bonds, with an exception of a 2-year auction that was cancelled, 10-year and 15-year and 20-year yields rate fell between 0.20 per cent and over 1.50 per cent.<\/p>\n

The yields down spiral movements followed a significant auction oversubscription, meaning falling rates across all papers since the beginning of the year.<\/p>\n

Zan Securities Chief Executive Officer, Raphael Masumbuko also predicted that the yields rates will continue with a down-spiral movement during today\u2019s auction.<\/p>\n

\u201cWe expect yields to continue to decrease in the next week\u2019s auction for the 15\u2013year Treasury bond,\u201d Mr Masumbuko said in the Weekly Market Blast report.<\/p>\n

Furthermore, the brokerage firm said the government securities\u2019 yield curve would continue remaining normal, with the downward trend in weighted average yields.<\/p>\n

In this year\u2019s quarter two, 597.2bn\/- was auctioned in 5, 10, 15 and 20 years Treasury bonds.<\/p>\n

Auctions received bids worth 1.149tri\/- while only 6.86bn\/- were successful. \u201cIn line with our expectations, market liquidity remained stable, with investor\u2019s participation in auctions marking a 92-per cent oversubscription,\u201d NMB Bank quarterly market digest showed.<\/p>\n

Meanwhile, investors\u2019 appetite on Treasury bills waned as seen in recent auctions which experience under subscription.<\/p>\n

The Bank of Tanzania offered the usual total of 90.23bn\/- while the public\u2019s total tender size amounted to 64.47bn\/- from 40 bids, all targeting the 364days tenor.<\/p>\n

\u201cThe other three tenors received zero bids\u201d, Orbit Securities said in its weekly market Synopsis, \u201cas a result, the weighted average yield to maturity of the 364days tenor was maintained at 3.97per cent, similar to the previous auction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Author: ABDUEL ELINAZA AfricaPress-Tanzania: THE 15-year Treasury bond is expected to be oversubscribed today, but debt analysts remain wary as yields are getting lower to the resistance level. The analysts, however, cautioned that the yield level may derail the oversubscription level if it continues to decline. The central bank, today at the auction, wants to […]<\/p>\n","protected":false},"author":84,"featured_media":8507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[1801,2975,694],"class_list":["post-14975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-raphael-masumbuko","tag-treasury-bond","tag-zan-securities"],"yoast_head":"\nOVERSUBSCRIPTION AWAITS 15-YEAR BOND - Tanzania<\/title>\n<meta name=\"description\" content=\"THE 15-year Treasury bond is expected to be oversubscribed today, but debt analysts remain wary as yields are getting lower to the resistance\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OVERSUBSCRIPTION AWAITS 15-YEAR BOND\" \/>\n<meta property=\"og:description\" content=\"THE 15-year Treasury bond is expected to be oversubscribed today, but debt analysts remain wary as yields are getting lower to the resistance\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-09T16:57:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/05\/3a0afbad5065e1b6679b918fbf0ac1d5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"OVERSUBSCRIPTION AWAITS 15-YEAR BOND\",\"datePublished\":\"2020-09-09T16:57:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond\"},\"wordCount\":405,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/05\/3a0afbad5065e1b6679b918fbf0ac1d5.jpg\",\"keywords\":[\"Raphael Masumbuko\",\"Treasury bond\",\"Zan Securities\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/oversubscription-awaits-15-year-bond\",\"name\":\"OVERSUBSCRIPTION AWAITS 15-YEAR BOND - 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