THE national government capped its last government securities auction on Monday, issuing a total of P896.9 billion in Treasury bills (T-bill) this year, data from the Bureau of the Treasury (BTr) showed. The Treasury, through its auction committee, raised P896.
THE national government capped its last government securities auction on Monday, issuing a total of P896.9 billion in Treasury bills this year, data from the Bureau of the Treasury showed.
Ricafort said the wider budget deficits recorded in some months as well as increased debt servicing amid maturities of government securities also prompted the government to borrow more through T-bills. The yields were higher by 0.9 basis points to as much as 5.3 bps compared to their previous tender’s averages. Ricafort said the increased T-bill yields are similar to the slight weekly increase in the comparable short-term PHP BVAL yields, “amid some premium on crossing-the-year funds as the accounting year-end draws closer due to some window-dressing activities/balance sheet management.”
The yield for the 364-day T-bills averaged at 5.977 percent, higher by 0.9 bps from 5.968 percent previously, with a rate range of 5.950 percent to 5.980 percent. Ricafort said T-bill yields “somewhat normalized” amid the widely expected Fed and BSP key policy rate cuts this week.
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