The Bureau of the Treasury made a partial borrowing at yesterday's auction after banks asked for higher yields on one-year debt papers.
The interest rate on 91-day Treasury bills slid to 1.150 percent from last week’s P1.167 percent, while the 182-day notes settled at 1.589 percent, slightly higher compared with 1.518 percent in the previous week.
The Treasury, however, rejected bids for 364-day IOUs.
National Treasurer Rosalia V. de Leon said that bids for one-year papers were 16 basis points higher than last week’s rate and above the secondary-levels. The government sold P12 billion from T-bills this week, below the P20 billion offering. Total demand for the papers amounted to P54 billion.