The interest rate for long-term Philippine debt papers dropped to 4.089 percent from the 4.564 percent in December last year amid lingering anticipation over unwinding monetary policies in the United States.
The Bureau Treasury reported on Wednesday, Feb. 2, that investors at the auction for the five-year Treasury bond were willing to buy as much as P60.656 billion of the T-bonds, nearly twice the P35-billion on offer. The Treasury bureau made a full award.
“Despite hawkish tone from Fed, rates remained within market levels with expectation on cooling inflation and continued supportive monetary stance,” National Treasurer Rosalia V. De Leon told reporters after the auction.