Mixed interest rate movements

Rates ended mixed on the latest issues of Government of Jamaica Treasury bills issued on Friday, June 9, following the auction of the two issues on Wednesday for $1.4 billion.
The 91 days issue for $700 million that matures in September this year resulted in an average yield of 7.86327 percent and the 182 days instrument has an average yield of 7.88671 percent.
The yield on the 182 days instrument is the lowest since August 2022 when it averaged 7.86, while the 91 days T-bill inched up from 7.82 percent in May but matched the rate in November last year and came against a background when the previous Bank of Jamaica CD average rate jumped to 9.30 percent, with only $21.36 billion going after the $22 billion the central bank offered.
The amounts of Treasury Bills applied for was $2.3 billion for the shorter term instrument and $3.06 billion for the other.