THE GOVERNMENT fully awarded the Treasury bills (T-bills) it auctioned off on Monday as rates inched down across the board amid strong demand from the market. READ:
awarded the Treasury bills it auctioned oThe Bureau of the Treasury raised P15 billion as planned from the T-bills it auctioned off on Monday as bids reached P62.013 billion, more than four times the amount on offer.
Lastly, the BTr raised the programmed P5 billion from the 364-day debt papers as demand for the tenor reached P20.573 billion. The average rate of the one-year T-bill inched down to 5.428%, 2 bps lower than the 5.448% fetched for the tenor last week. Accepted yields were from 5.393% to 5.473%. Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message the drop in T-bill yields in Monday’s auction was consistent with the week-on-week decline in PHP Bloomberg Valuation Service Reference Rates.
Investors also reacted to the Bangko Sentral ng Pilipinas chief’s recent comments on monetary policy, the trader added.
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