T-bill yields still below 1%
Treasury bill yields stayed below an average of one percent on Monday, with that on the 91-day T-bill unchanged at a record low of 0.05 percent.
National Treasurer Rosalia V. de Leon said in an interview that auction results continued to show the domestic economy’s strong fundamentals.
De Leon also noted that interest rates on the Bureau of Treasury’s short-term offerings remained strong.
In the auction Monday, the BTr raised a total of P15 billion as planned. Investors tendered a total of P34.37 billion or more than twice the total offering.
For the benchmark bill alone, tenders reached P9.12 billion or more than four times the P2-billion offer.
Lenders made available P11.75 billion for the 182-day bill or more than twice the P5-billion offer. They also tendered P13.5 billion for the 364-day bill or almost twice the P8-billion offer.
Also on Monday, the yield on the six-month bill rose by 3 basis points to 0.33 percent and that for the year-long bill by 0.5 basis point to 0.768 percent.
The latest rate for the 91-day bill was 10 basis points lower than the corresponding 0.15 percent for done deals at the Philippine Dealing and Exchange Corp.
At the secondary market, the prevailing rates for the 182-day bill was seven basis points higher at 0.4 percent, and for the 364-day bill, 23.2 basis points higher at 1 percent.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94