Treasury bill yields drifted lower at Monday’s auction, pressured by steady demand for shorter-dated debt paper.
Total tenders reached P134.5 billion, amounting to nearly three times the P50 billion offered by the Bureau of the Treasury.
Taking advantage of the solid interest, the Bureau of the Treasury fully awarded the entire offered volume.
The yield on the 91-day bill eased to 5.059 percent from 5.104 percent, while the 182-day paper slipped to 5.671 percent from the previous week’s 5.685 percent. Meanwhile, the average rate on the 364-day paper edged down to 5.950 percent from 5.966 percent.
The Bureau of the Treasury did not offer cash management bills this week.
