Close  

BTr sells P15B in treasury bills

By: - Reporter / @bendeveraINQ
/ 05:04 AM August 21, 2018

The Bureau of the Treasury on Monday sold all P15 billion in T-bills it offered as rates fell across the board.

The Treasury awarded P4 billion in 91-day debt paper at an average rate of 3.203 percent, down 4.1 basis points (bps) from 3.244 percent last week.

ADVERTISEMENT

It also sold P5 billion worth of 182-day treasury bills at 4.064 percent, 5.3 bps lower than the 4.117 percent in the previous auction.

The Treasury likewise awarded P6 billion in 364-day debt paper at 4.869 percent, lower by 2.3 bps than last week’s 4.892 percent.

FEATURED STORIES

In a statement, the Treasury said the full award came on the back of “healthy market demand,” which pulled down yields below secondary market rates.

Bids totaled P43.1 billion across the three tenors, making the auction almost three times oversubscribed.

National Treasurer Rosalia V. de Leon told reporters after the auction that the most recent 50-bps hike in the policy rate to 4 percent by the Bangko Sentral ng Pilipinas “calmed” markets.

The BSP’s most aggressive rate hike in 10 years came on the back of higher-than-expected inflation.

Headline inflation hit a new five-year high of 5.7 percent in July, bringing the seven-month average to 4.5 percent, above the government’s full-year target range of 2-4 percent.

ADVERTISEMENT
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bureau of the Treasury, Business
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.