National Treasurer Rosalia de Leon
MANILA – Rates of the Philippines’ Treasury bills (T-bills) posted mixed results Monday but demand remained strong.
The average rate of the 91-day paper declined to 2.035 percent and the 364-day to 2.350 percent, but the rate of the 182-day rose to 2.101 percent.
These were at 2.038 percent and 2.378 percent for the three-month and one-year paper, and 2.099 percent for the six-month paper during the auction last June 8.
National Treasurer Rosalia de Leon attributed the general decline in the debt papers’ interest rates to the continued deceleration of domestic inflation rate, which further slowed to 2.1 percent last May.
“Strong liquidity and rates remain subdued. Market awaits the decision on quarantine measures,” she told journalists in a Viber message after the auction.
The Bureau of the Treasury’s (BTr) auction committee fully awarded all tenors due to oversubscription.
It offered the three-month paper for PHP5 billion and received PHP20.427 billion worth of tenders.
Bids for the six-month paper reached PHP15.615 billion, more than three times the PHP5-billion offer.
Tenders for the one-year paper totaled to PHP45.947 billion, way higher than the PHP10-billion offer. (PNA)
