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

Short-term benchmark yields move sideways

Published Apr 29, 2024 09:14 am

At A Glance

  • The national government fully borrowed funds through short-term loans as most of the yields decreased after three week increase.<br>The auction for Treasury bills (T-bills) successfully raised P15 billion. The total bids received during the auction amounted to P51.204 billion.<br>The average rate for the benchmark 90-day IOUs declined to 5.869 percent. The government successfully sold P5 billion worth of three-month papers as planned.<br>The average yield on the 182-day T-bills decreased to 5.988 percent. The government also awarded the full amount of P5 billion for the six-month securities.<br>The government also raised P5 billion for the 364-day securities as its average interest rate inched up to 6.081 percent.

Short-term benchmark interest rates moved sideways amid slightly stronger peso exchange rate.

The national government on Monday, April 29, made a full award of all its short-term debt papers as demands totaled P51.204 billion, more than threefold the offer.

The Treasury made a full P5-billion award of the 90-day Treasury bills (T-bills) as tenders for the tenor reached P16.160 billion.

The three-month paper was quoted at an average rate of 5.869 percent, below the 5.888 percent in the previous auction last week.

The government also raised the programmed P5 billion for the 181-day short-term loans. Tenders for the security amounted to P18.590 billion.

The six-month T-bills’ average rate decreased to 5.988 percent, lower than the previous auction’s 6.002 percent.

As for the 364-day T-bills, the average rate increased to 6.081 percent, up from 6.080 percent in the last auction. Tenders submitted for the debt paper stood at P16.454 billion, more than three times the P5-billion offer which was fully awarded.

At the second market, meanwhile, the average rates for the 91-, 181-, and 364-day T-bills stood at 5.902 percent, 6.020 percent, and 6.051 percent, based on the Bloomberg Valuation Service Reference Rate.

Related Tags

Treasury bills T-bills Bureau of the Treasury
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