The national government raised P22 billion through the sale of short-dated IOUs, higher by P2 billion against its P20 billion program for the week.
Interest rates on three-month and six-month papers declined compared with the previous week, while one-year note yield was unchanged.
The 91-day Treasury bills (T-bills) settled at 1.019 percent, down from 1.024 percent, while 182-day T-bills averaged at 1.443 percent, also lower compared with P1.453 percent last year.
The 364-day T-bills, meanwhile, remained at last week’s 1.745 percent level. Investors swamped the three-month papers prompting the Treasury to upsize its offer from P5 billion to P7 billion.
Total tenders for the T-bills amounted to P80.41 billion, more than four-times the P20 billion offer. National Treasurer Rosalia de Leon said “hefty liquidity prevails with magnetic appeal of short-tenors.”