The national government raised P22 billion from the sale of short-dated notes in the domestic market yesterday after interest rates dropped anew across all tenors.
Rate on 91-day Treasury bills settled at 1.058 percent, lower than 1.079 percent in the previous week, while the 182-day notes averaged 1.499, also down from the previous 1.543 percent.
Yield on one-year IOUs, likewise, decreased from 1.791 percent to 1.759 percent. Total bids for three-months, six-months and one-year T-bills amounted to P96.23 billion, more than three-times the government offer.
National Treasurer Rosalia de Leon said interest rates fetched lower this week as inflation outlook remained benign coupled with sustained ample liquidity in the local market. The Treasury opened its tap facility for additional P5 billion of 364-day notes.