T-bill rates end mixed, demand still strong

The rate of the 91-day Treasury bill (T-bill) rose on Monday but those of the 182- and 364-day papers moved sideways, although demand was still strong across the board.

The average rate of the 91-day paper increased to 1.085 percent, the 182-day to 1.391 percent, and the 364-day to 1.584 percent.

These were at 1.060 percent for the three-month paper, 1.385 for the six-month paper, and 1.582 percent for the one-year paper during the auction last September 27.

The Bureau of the Treasury (BTr) offered all tenors for PHP5 billion each. These were all oversubscribed and fully awarded.

Total tenders for the three-month paper amounted to PHP13.013 billion while it reached PHP22.418 billion for the six-month paper and PHP20.925 billion for the one-year paper.

Asked if inflation expectations are among the culprits for the general rise of T-bill rates in this week’s auction, National Treasurer Rosalia de Leon said: yes.

“But not so much especially (for the) 182- and 364-(day papers),” she told journalists in a Viber message.

Source: Philippines News Agency

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