Short-term benchmark interest rates moved slightly at Monday’s (May 24) auction.. The 91-day Treasury bills fetched an interest rate of 1.269 percent, marginally easing from the previous week’s 1.270 percent.
Demand for the three-month government IOUs reached P16.96 billion, but the Bureau of the Treasury accepted only P5 billion of the total tenders.
Yield on the 182-day T-bill, meanwhile, went up slightly from 1.540 percent to 1.541 percent as investors were willing to buy P20.28 billion of the six-month IOUs.
The government only accepted P8 billion. Interest rate on the 365-day T-bill dropped to 1.796 percent from 1.810 percent in the previous week with total tenders for the one-year paper amounting to P38.59 billion, of which the government accepted only P12 billion. The Treasury opened its tap facility for additional P5 billion one-year IOUs. The auction was more than three-times oversubscribed with total bids hitting P75.8 billion. The national government raised the full program of P25 billion.