The Marcos administration borrows P10.572 billion from the domestic market Monday, below the P15 billion program after interest rates increased across the board.
The 91-day Treasury bill (T-bill) rate increased to 5.869 percent from 5.550 percent last week.
Yield on the 182-day T-bill also rises to 5.993 percent from the previous 5.812 percent.
Interest rate on the one-year IOU inches up to 6.209 percent from 6.073 percent last week.
Gov’t borrows partially amid higher rates
Apr 24, 2023 07:29 AM
At a glance
The national government borrowed lower than planned after benchmark yields for short-term loans rose anew.
At Monday's auction of Treasury bills on April 24, the national government raised a total of P10.572 billion, below the P15 billion program. Demand across the board reached P17.553 billion
The 91-day Treasury bill rate increased to 5.869 percent from 5.550 percent last week. It was also higher than secondary market yield of 5.648 percent.
The Treasury sold the P2.607 billion worth of three-month debt papers, lower than the P5 billion on offer. Investors were asking for P4.417 billion of the government security or IOU.
Yield on the 182-day T-bill also rose to 5.993 percent from the previous 5.812 percent as investors were willing to buy P6.146 billion of the six-month IOUs. The government awarded only P3.236 billion.
Interest rate on six-month papers, however, settled lower compared with the secondary market rate of 5.919 percent.
Lastly, interest rate on the one-year IOU inched up to 6.209 percent from 6.073 percent last week. It was, however, lower than the secondary’s 6.148 percent.
The one-yield debt papers attracted P6.990 billion worth of bids, and the government accepted only P4.729 billion as planned.