Manila Bulletin

T-bills fully sold; 91-day at 1.086%


The Bureau of the Treasury fully awarded bids for short-term IOUs at yesterday’s auction. The 91-, 182-, and 364-day Treasury bills fetched average rates of 1.086 percent, 1.597 percent, and 1.793 percent, respective­ly. Yields dropped across the board at the auction and below secondary market benchmark rates. The auction was also oversubscr­ibed with total bids reaching ₱69 billion, more than three-times the ₱20-billion offering. National Treasurer Rosalia de Leon said local liquidity remained strong. “Looking for redeployme­nt outlets with interest rates on the front end of the curve,” de Leon told reporters. The Treasury opened its tap facility for additional ₱5 billion in one-year notes. (Chino S. Leyco)

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