Treasury bill yields were mixed at Monday’s auction, with shorter-dated debt papers softening following the Bangko Sentral ng Pilipinas’ decision to reduce banks’ reserve requirement ratio, effective later this month.
The reserve ratio cut is expected to release over P300 billion into the financial system.
The average rate for the 91-day Treasury bill declined to 5.283 percent, down from 5.329 percent, while the rate for the 182-day bill eased to 5.610 percent from 5.627 percent.
Meanwhile, the average rate for the one-year Treasury bill saw a slight increase, rising to 5.770 percent from 5.754 percent.
Total tenders for the auction reached P85.5 billion, more than four times the P22.0 billion offered, which was awarded in full.
