T-bills, from S2/ 1

3.75% coupon fetched for the papers when they were first offered the month prior.

At the secondary market on Friday, the 91-, 182- and 364-day Tbills were quoted at 1.113%, 1.383% and 1.633%, respectively, while the seven-year tenor fetched 3.611%, according to the PHP Bloomberg Valuation Service Reference Rates published on the Philippine Dealing System’s website.

The Treasury is looking to raise P250 billion from the local market this month: P75 billion via weekly offers of T-bills and P175 billion from weekly auctions of T-bonds.

The government wants to borrow P3 trillion from domestic and external sources this year to help fund a budget deficit seen to hit 9.3% of gross domestic product. — B.M. Laforga