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Meanwhile In Kenya, "Investors" Are Rushing Into Treasury Bills

You know it's bad when...

Complacency has returned with a vengeance as investors rushed into 3-month T-Bills when Kenyan Treasury issued them this week...

 

The weighted average yield on Kenya's 91-day Treasury bill plummeted to 13.763 percent at a heavily oversubscribed auction on Thursday, compared to 19.471 percent at last week's sale, the central bank said.

As the auction's bid-to-cover spiked to a massively unprecedented record high.

It offered bills worth 4.0 billion shillings ($39.20 million) and received bids worth 44.6 billion shillings. It accepted bids worth 7.3 billion shillings ($71.53 million).

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After all - what could go wrong in 3 months, right?

Charts: Bloomberg