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Friday, March 29, 2024

T-bill rates ease

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The government sold P20 billion worth of short-term debt paper Monday, as investors demanded lower rates.

The Treasury awarded P6 billion from the of 91-day debt instruments, P6 billion from 182-day papers and another P6 billion from 364-day bills.

The Treasury said the auction received strong demand, with bid-to-cover the ratio of more than 2.5 times across all tenors.

Interest rates on the P91-day or three-month debt facilities settled at 1.321 percent or 15 basis points lower than the previous rate of 1.479 percent. Tenders for the three-month debt papers reached P21.128 billion, or nearly triple the original offer of P8 billion.

The 182-day bills rates also decreased by 3.5 basis points to 1.439 percent from the previous auction average rate of 1.474 percent. Tenders for the debt facilities reached P15.9 billion, or more than thrice the P6 billion original offer. 

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Interest rates for the 364-day or one-year debt papers eased 4.1 basis points to 1.683 percent from the previous average rate of 1.724 percent. Tenders for the debt facility hit P15.45 billion, or more than double the original offer of P6 billion.

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