MANILA -- Rate of the government-issued Treasury bills (T-bills) ended mixed Monday but all three tenors were oversubscribed.
Average rate of the bellwether 91-day paper dropped to 3.179 percent from 3.192 percent during the auction on December 2, 2019.
The Bureau of the Treasury (BTr) offered the debt paper for PHP6 billion and investors submitted a total of PHP9.967 billion worth of tenders. The auction committee made a full award.
Average rate of the 182-day T-bill, meanwhile, rose to 3.435 percent from 3.348 percent in the previous auction.
This tenor was also offered for PHP6 billion and received bids amounting to PHP8.28 billion. The auction committee also made a full award.
Rate of the 364-day paper also improved after rising to 3.624 percent from 3.475 percent last December 2.
Bids amounted to PHP8.554 billion, higher than the PHP8-billion offer, but the auction committee only awarded PHP7.104 billion.
Rate of debt instruments has been fluctuating due the rising risks of the US-China trade issues as well as the expected normalization of the domestic inflation rate and the Bangko Sentral ng Pilipinas’ (BSP) key policy rates. (PNA)
