MANILA – Strong demand for Treasury bills (T-bills) amidst fewer supply resulted in the decline in the debt papers’ rate on Monday.
The average rate of the 91-day T-bills slipped to 1.235 percent, the 182-day to 1.472 percent, and the 364-day to 1.723 percent.
These were at 1.269 percent, 1.541 percent, and 1.796 percent during the auction last May 24.
National Treasurer Rosalia de Leon said the limited T-bills supply drove the huge demand for the securities.
“BTr (Bureau of Treasury) reduced bills volume and increased bonds as investors (are) now looking for yield pick from longer tenors,” she told journalists.
BTr’s T-bills offering this week is at PHP5 billion for each tenor.
The offerings for the six-month and one-year papers are lower compared to the PHP8 billion for the 182-day, and PHP12 billion for the 364-day papers in the previous week.
Total tenders for the three-month paper reached PHP22.15 billion, the six-month paper, PHP27.41 billion; and the one-year paper, PHP37.613 billion. (PNA)
