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Manila Bulletin devider Business devider Short-term loan yields rise anew

Short-term loan yields rise anew

Published Jan 9, 2023 01:29 pm

Benchmark yields for short-term loans rose anew amid expectations that US Federal Reserve will continue its interest rate tightening regime.

At Monday's auction of Treasury bills on Jan. 9, the 91-day Treasury bill rate increased to 4.232 percent from 4.155 percent last week. This, however, is lower than the secondary rate of 4.267 percent.

The Treasury sold the P5 billion worth of three-month debt papers on offer. Investors, however, were asking for P11.875 billion of the government security or IOU.

Yield on the 182-day T-bill also increased to 4.959 percent from the previous 4.903 percent as investors were willing to buy P9.18 billion of the six-month IOUs. The government awarded P5 billion as planned.

The six-month paper settled slightly higher than the secondary market rate of 4.874 percent.

Lastly, interest rate on the one-year IOU has rose to 5.393 percent from 5.240 percent a week ago. This is also above the 5.268 percent fetched in the secondary market.

The one-yield debt papers attracted P6.94 billion worth of bids and the government accepted only 4.75 billion, below the P5 billion program.

Related Tags

government borrowings T-bills government securities Treasury bill Bureau of the Treasury
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