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Manila Bulletin devider Business devider Short-term benchmark yields move sideways

Short-term benchmark yields move sideways

Published Nov 28, 2022 03:06 pm

Benchmark yields for short-term loans moved sideways, prompting the Bureau of the Treasury to partially borrow.

At Monday's auction of Treasury bills on Nov. 28, the bellwether 91-day Treasury bill rate dropped to 4.205 percent from 4.375 percent last week. This, however, is higher than the secondary rate of 4.177 percent.

The Treasury sold the P5 billion worth of three-month debt papers on offer. Investors, however, were asking for P25.987 billion of the government security or IOU.

Yield on the 182-day T-bill, meanwhile, slightly decreased to 4.920 percent from the previous 4.921 percent as investors were willing to buy P5.780 billion of the six-month IOUs. The government awarded only P2.100 billion of P5 billion program.

The six-month paper settled lower than the secondary market rate of 4.924 percent.

Lastly, interest rate on the one-year IOU has risen to 5.150 percent from 5.142 percent last week. This is also above the 5.081 percent fetched in the secondary market.

The one-yield debt papers attracted only P4.020 billion worth of bids, below the P5 billion on offer. The government accepted only P2.520 billion.

“Interest rates are aligned with secondary levels and award provides good supply to market to deploy short term liquidity,” National Treasurer Rosalia V. De Leon told reporters.

Related Tags

Treasury bills government borrowings T-bills government securities Bureau of the Treasury National Treasurer Rosalia V. De Leon
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