CBK accepts KSh44.32bn at T-bill auction; bids concentrated in 91d and 182d, 364d underperforms

On 28 August 2026 the Central Bank of Kenya accepted KSh 44.32 billion at its weekly Treasury-bill auction, oversubscribing 91-day and 182-day paper (accepted KSh 23.11bn and KSh 15.05bn respectively) while 364-day paper underperformed with accepted bids of KSh 6.16bn against a KSh 10bn offer.

Strong demand for short-dated (91/182-day) T-bills preserves near-term funding access but raises rollover sensitivity: the weaker 364-day subscription and the higher stop rate on the one-year paper imply investors are more selective on duration. If this pattern persists, the government may face higher funding costs when extending maturities or relying on longer paper.

Next weekly T-bill auction scheduled for 7 September 2026 (and CBK announced Treasury bond auctions in early September).