Kazakhstan Finance Ministry Places Short-Term T-Bills at 16.13% Yield

On July 28, the Kazakhstan Stock Exchange hosted a specialized placement auction for short-term government treasury bills (MEKKAM). The placement volume reached 180.6 million securities, with a weighted average yield to maturity fixed at 16.13% per annum. By comparison, medium-term MEOKKAM bonds were placed on the same day at 14.49% and long-term MEUKAM at 14.00%. The premium yield on short-term instruments reflects the current monetary policy stance of the National Bank. Retail investors may find these securities an attractive alternative to bank deposits while retaining government-backed security.