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Only P2-B T-bills sold

The national government raised P22 billion through the sale of short-dated IOUs, higher by P2 billion against its P20 billion program for the week.

Interest rates on three-month and six-month papers declined compared with the previous week, while one-year note yield was unchanged.

The 91-day Treasury bills (T-bills) settled at 1.019 percent, down from 1.024 percent, while 182-day T-bills averaged at 1.443 percent, also lower compared with P1.453 percent last year.

The 364-day T-bills, meanwhile, remained at last week’s 1.745 percent level. Investors swamped the three-month papers prompting the Treasury to upsize its offer from P5 billion to P7 billion.

Total tenders for the T-bills amounted to P80.41 billion, more than four-times the P20 billion offer. National Treasurer Rosalia de Leon said “hefty liquidity prevails with magnetic appeal of short-tenors.”


Source: Manila Bulletin (https://mb.com.ph/2020/11/16/only-p2-b-t-bills-sold/?utm_source=rss&utm_medium=rss&utm_campaign=only-p2-b-t-bills-sold)

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