Government bond auction · South Africa
South Africa 273-Day T-Bill Auction
The South Africa 273-Day T-Bill Auction is a sale of new government debt by South Africa's treasury or debt agency to investors.
- Importance
- Low
- Released
- Weekly
- Next release
- Currency
- ZAR · South African rand
- Central bank
- The South African Reserve Bank
Latest figures
The latest release, published on 2 November 2026, came in at 7.88%, down from 7.89% the time before.
Over the last 12 releases it ranged from 7.66% to 8.02%, averaging 7.84%; it has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 2 Nov 2026 | – | 7.88% | – | 7.89% |
| 26 Oct 2026 | – | 7.89% | – | 7.95% |
| 19 Oct 2026 | – | 7.95% | – | 7.99% |
| 12 Oct 2026 | – | 7.99% | – | 8% |
| 5 Oct 2026 | – | 8% | – | 8.02% |
| 28 Sep 2026 | – | 8.02% | – | 7.88% |
| 21 Sep 2026 | – | 7.88% | – | 7.80% |
| 14 Sep 2026 | – | 7.80% | – | 7.73% |
| 7 Sep 2026 | – | 7.73% | – | 7.67% |
| 31 Aug 2026 | – | 7.67% | – | 7.67% |
| 24 Aug 2026 | – | 7.67% | – | 7.66% |
| 17 Aug 2026 | – | 7.66% | – | 7.65% |
Why it matters
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
How it is calculated
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldWhat changes mean
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
A short history
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Questions
What is the South Africa 273-Day T-Bill Auction?
The South Africa 273-Day T-Bill Auction is a sale of new government debt by South Africa's treasury or debt agency to investors.
What was the latest South Africa 273-Day T-Bill Auction?
7.88%, published on 2 November 2026.
When is the next South Africa 273-Day T-Bill Auction?
On Monday 9 November 2026 at 09:30 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.