Market snaps up P25-B T-bills in brisk auction | Inquirer Business

Market snaps up P25-B T-bills in brisk auction

/ 04:05 AM April 13, 2021

The Bureau of the Treasury on Monday raised P25 billion from short-dated T-bills due to robust demand even as rates moved sideways.

The Treasury awarded P5 billion in the benchmark 91-day debt paper at an average rate of 1.325 percent, up from 1.295 percent last week.

It also sold P8 billion in 182-day treasury bills at 1.695 percent, up from 1.646 percent previously.

Article continues after this advertisement

The P12 billion in 364-day T-bills bucked the trend as the annual rate declined to 1.903 percent from last week’s 1.912 percent.

FEATURED STORIES

Investors’ bids totalled P54.7 billion across the three tenors, making the auction more than twice oversubscribed.

National Treasurer Rosalia de Leon said the auction overall had “good results with healthy tender,” hence the full award of Monday’s offering.

Article continues after this advertisement

While bid rates for the shorter end of the curve inched up, De Leon said these remained within secondary market levels and were “tempered by the lower inflation print in March.”

Last month’s headline inflation eased to 4.5 percent from 4.7 percent in February.

Ben O. de Vera
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Business, Rosalia de Leon

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.