National Treasurer Rosalia de Leon
MANILA – Rates of the Philippines Treasury bills (T-bills) declined anew on investors’ optimism a few hours before the President’s fifth State-of-the-Nation Address (SONA) on Monday.
The average rate of the 91-day T-bill declined to 1.335 percent, the 182-day to 1.605 percent, and the 364-day to 1.758 percent.
These were at 1.454 percent, 1.625 percent, and 1.770 percent, respectively, for the three- and six-month and one-year paper during the T-bill auction last July 20.
“Rates declined with strong demand on short tenors as investors await highlights of PRRD (President Rodrigo R. Duterte’s) SONA (State of the Nation Address) to address (the) health crisis and unveil recovery plan,” National Treasurer Rosalia de Leon told journalists after the auction.
Aside from the drop in the debt paper’s interest rates, demand for the debt papers remains robust.
The Bureau of the Treasury (BTr) offered the three-month paper for PHP5 billion and the auction committee made a full award. Tenders totaled to PHP21.791 billion.
The six-month paper was also fully awarded at PHP5 billion after bids totaled to PHP16.65 billion.
BTr’s auction committee also fully awarded the one-year paper at PHP10 billion after tenders amounted to PHP25.957 billion.
The agency opened the tap facility to offer the one-year paper for PHP5 billion. (PNA)
