The government managed to borrow P52 billion in short term securities this month, less than 90 percent of its target amount amid high asking rates from investors.
The Bureau of the Treasury yesterday made a partial award of P14.26 billion out of the P15 billion on offer, the last T-bills auction for October.
Yields also trekked upward after inflation in September hit 6.1 percent, which led to bets the BSP may raise rates in November with an off-cycle hike not being dismissed as well. Bids also went up across the board to P7.804 billion, P5.46 billion and P10.095 billion for the three, six, and 12 month securities, respectively.
The 182-day short-dated debt papers saw rates jump by 16.5 basis points to 6.33 percent and also above last week’s level of 6.207 percent. he Philippine Board of Investments has accredited Security Bank Corp. as one of the depository banks for the BOI’s Special...
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