The national government has successfully sold P20-billion treasury bills today, the Bureau of the Treasury said.
At an auction, interest rate of three-month debt papers slightly inched up from 1.015 percent last week to 1.022 percent, allowing the government to raise P5 billion as planned. Investors offered to buy P15.218 billion worth of the notes.
Meanwhile, the six-month yield also rose to 1.400 percent from 1.399 percent a week ago as total bids reached P14.84 billion, nearly three-times the P5 billion offer.
On the other hand, the one-year rate declined to 1.686 percent compared with 1.695 percent in the previous week.
The government’s proceeds from the 364-day papers reached P10 billon with total offers of P44.941 billion.
National Treasurer Rosalia de Leon said there were minimal movements in interest rates this week as market expects the Bangko Sentral ng Pilipinas’ Monetary Board will keep its key interest rates steady during its meeting on Thursday. De Leon also said liquidity is also “bountiful” as total tenders were all oversubscribed