The government fully awarded bids for Treasury bills (T-bills) at Tuesday’s auction despite most benchmark yields climbing.
The national government raised the programmed P15 billion. Demand across the board reached P40.3 billion
The 91-day Treasury bill rate slightly declined to 5.666 percent from 5.667 percent last week. It was the same with the secondary market yield of 5.666 percent.
The Treasury sold the P5 billion worth of three-month debt papers. Investors were asking for P17.180 billion of government security or IOU.
Meanwhile, the yield on the 182-day T-bill also rose to 5.914 percent from the previous 5.908 percent as investors were willing to buy P11.360 billion of the six-month IOUs. The government awarded P5 billion.
Interest rate on six-month papers settled lower compared with the secondary market rate of 5.969 percent.
Lastly, interest rate on the one-year IOU inched up to 6.046 percent from 6.039 percent last week. It was lower than the secondary’s 6.077 percent.
The one-yield debt papers attracted P11.742 billion worth of bids, and the government accepted only P5 billion as planned.