Treasury bill rates jumped across all tenors Monday, with the yields for the six-month and one-year debt paper hitting at least 1 percent for the first time since falling to record lows earlier this year.
The historic-low interest rates in the previous auction proved unsustainable as the yields on treasury bills Monday jumped across the board after banks sought higher returns.
The historic-low interest rates in the previous auction proved unsustainable as the yields on treasury bills on Monday jumped across the board after banks sought higher returns.
Interest rates on treasury bills fell across the board to record lows in the wake of Fitch Ratings’ upgrade of the government’s long-term foreign credit to investment grade.
Interest rates on treasury bills continued to stay below one percent on Monday amid mixed results, with that on the 91-day paper inching up by 3 basis points to 0.08 percent.
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.
Interest rates on treasury bills stayed below 1 percent during Monday’s auction, with the yield on the 91-day securities plunging to a new record low of 0.05 percent.
The yield on one-year treasury bills on Monday hit record low, as the liquidity in the banking system and the market’s favorable assessment of the government’s credit-worthiness pushed demand for the securities up.
Interest rates on treasury bills fell Monday to historic lows for all three maturities following the continued favorable economic situation and ample supply of cash in the financial market.
Yields on treasury bills fell Monday across the board, bringing the rates for all three maturities below one percent.
The Bureau of Treasury has canceled auctions for P7.5 billion worth of treasury bills and P9 billion worth of regular seven-year bonds that were scheduled for the next two weeks, amid strong demand for retail treasury bonds (RTBs) currently on offer.
The yield on the 91-day treasury bills continued to decline, settling at a low 0.712 percent or a decrease of 3.3 basis points during Monday’s auction by the Bureau of the Treasury.
