The national government raised P20 billion through the sale of short-term IOUs (treasury bills).
The Bureau of the Treasury saw mixed results at yesterday’s auction with interest rates on both three- and six-month notes slightly rose, while yield on one-year papers declined.
The average 91-day Treasury bills (T-bills) settled at 1.006 percent, up from P0.986 percent last week, while 182-day T-bills fetched 1.386 percent, marginally higher than the previous 1.385 percent.
Interest rate on 364-day papers decreased from 1.695 percent to 1.693 percent. Total tenders for the three tenors reached P75.9 billion, nearly four-times than P20 billion offer. The treasury bureau opted not to open its tap facility.