T-bill yields still below 1%

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07:47 PM February 4th, 2013

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By: Ronnel W. Domingo, February 4th, 2013 07:47 PM

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.

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