BTr raises P 17B from T-bills; rates down | Inquirer Business

BTr raises P 17B from T-bills; rates down

/ 04:08 AM September 28, 2021

Rosalia de Leon

The Bureau of the Treasury on Monday raised P17 billion from short-dated treasury bills at lower rates on the back of robust investor demand amid oozing liquidity.

The Treasury awarded P5 billion each for the benchmark 91- and 182-day tenors, while it accepted double of the noncompetitive bids for the 364-day to raise a bigger P7 billion.

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The three-month treasury bills were sold at an average of 1.06 percent, down from 1.07 percent last week.

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The six-month securities were awarded at 1.385 percent, down from 1.389 percent previously.

The one-year IOUs fetched an annual rate of 1.582 percent, down from 1.597 percent.

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National Treasurer Rosalia de Leon said it seemed that investors were no longer as worried about elevated inflation unlike in previous auctions.

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“Liquidity is very much around and we have P22 billion in maturities this week. Placements remain in short-tenor buckets,” De Leon said.

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De Leon said the weekly volume of next month’s Treasury auctions may likely be the same—it offered P15 billion in T-bills and P35 billion worth of bonds per week in recent months.

Monday’s auction attracted P63.87 billion in bids, making it four times oversubscribed.

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While inflation concerns may be taking a backseat among investors in government securities, think tanks on Monday said the high price environment might not help in economic recovery.

— Ben O. de Vera INQ
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TAGS: Business, Rosalia de Leon, T-bills

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