RATES of government securities may move sideways or drop this week on improving risk appetite amid the country’s coronavirus situation and ahead of the US central bank’s policy review this week. READ:
er P15 billion in Treasury bills on Monday, or P5 billion each in 91-, 182- and 364-day securities.P35 billion in reissued seven-year Treasury bonds with a remaining life of six years and six months.
OCTA Research Group said on Saturday that new coronavirus infections in the capital declined by 30% from Jan. 15 to 21. The US central bank is holding its first policy meeting for the year on Jan. 25-26. The Fed is widely expected to raise rates three times this year starting as early as March, median forecasts from a Reuters poll showed. Almost half expect the central bank to hike rates at least four times.
The Treasury also borrowed P5 billion as programmed from the 182-day securities it offered from P24.98 billion in tenders. The average rate of the six-month T-bill fell by 14.8 bps to 1.121% from 1.269% previously.
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