National Treasurer Rosalia de Leon / INQUIRER FILE PHOTO
The Bureau of the Treasury on Monday sold P21 billion in treasury bills at rates that fell across the board as investors sought new government securities to replace their maturing holdings.
Just like the previous weeks’ T-bill auctions, the Treasury awarded a bigger P7 billion each across the three tenors as it accepted double the noncompetitive bids. It offered P5 billion each of the 91-, 182- and 364-day treasury bills.
P100.3 billion
The Treasury sold the three-month IOUs at an average rate of 1.118 percent, down from 1.176 percent last week.
It awarded the six-month securities at 1.372 percent, down from 1.422 percent previously.
The one-year debt paper, meanwhile, fetched an annual rate of 1.577 percent, down from 1.649 percent.
A total of P100.3 billion in bids were generated across the three T-bill tenors, making the auction six times oversubscribed.
Liquidity
“Liquidity was looking for outlets as RTB maturity further bolstered ample funds onshore searching for yield,” National Treasurer Rosalia de Leon said, referring to P131 billion in retail treasury bonds that matured over the weekend.
In all, about P165 billion in securities matured and freed funds to the domestic financial system this month. INQ