The T-bill auctions have been skewed towards the 91-day paper since mid-May, as investors avoid locking in their money for long periods.

The T-bill auctions have been skewed towards the 91-day paper since mid-May, as investors avoid locking in their money for long periods.

Investors poured US$1.4bn into Kenya's 91-day Treasury bills in 10 weeks, betting on higher rates and leaving the Treasury a mid-August debt headache.