Strong demand sends T-bill rates lower 

The National Treasury awarded in full P15 billion worth of Treasury bills it auctioned Monday as strong demand sent average yields lower.

Total bids was triple the offered amount at P47.6 billion.

The 91-day treasury bills, a benchmark rate, eased to 5.552 percent from the 5.573 percent it fetched at last week’s auction. Yield on the 182-day bill was down to 5.966 percent from 5.993 percent while the average rate on 364-day bill slipped to 6.198 percent from 6.297 percent. 

All yields were lower than the Bangko Sentra ng Pilipinas’ overnight rate of 6.250 percent.

On Tuesday, the National Treasury is scheduled to hold an auction for P30 billion worth of 3-year Treasury bonds.

The National Treasury plans to raise in September a total P180 billion worth of T-bills and T-bonds. It will offer P5 billion each for three-, six- and 12-month T-bills in four weekly auctions, while two three-year bonds worth P30 billion each and P30 billion each for seven- and 10-year bonds will be offered at separate auctions.