TANZANIA, July 31 -- THE latest two-year Treasury bond attracted bids almost four times the amount on offer, signaling sustained investor confidence in government securities as declining yields failed to dampen demand for fixed-income assets.

The Bank of Tanzania (BoT) said investors submitted 438.11bn/- in competitive bids for the 9.5 per cent Two-Year Treasury Bond auction held on Wednesday, compared with 111.15bn/- offered under the competitive window.

The sale was oversubscribed by 326.96bn/-, allowing the central bank to maintain its targeted borrowing despite rejecting a large share of applications.

The outcome highlights continued demand for sovereign debt from banks, pension funds, insurance companies and other institutional in...