The yields on Treasury bills declined across the board in Monday’s auction, enabling the government to raise P15 billion as planned for the second week in a row. | RonWDomingoINQ /PDI
On Jan. 23, the auction committee led by the BTr fully awarded its offers of 91-day and 182-day T-bills at P5 billion each, but raised only P3.65 billion from 364-day T-bills as lenders continued to ask for relatively high rates for the yearlong debt paper.
Compared to prevailing rates at the secondary market, Monday’s auction results were 10.1 bps lower for the 91-day bills , 8.6 bps lower for the 182-day bills , and 2.5 bps lower for the 364-day bills at 5.453 percent. The three-month bills were oversubscribed by more than four times with P22.36 billion tendered while the six-month bills were oversubscribed by almost four times with P19.08 billion tendered.The yearlong bills were also oversubscribed by more than four times with P20.573 billion tendered.
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