Average yields on treasury bills continued to ease at Monday’s auction, supported by growing expectations of further monetary policy loosening amid slowing inflation.
Treasury bill yields fell across all tenors at Monday’s auction, as the sharp deceleration in April inflation heightened expectations of potential monetary policy easing.
Average rates on treasury bills drifted lower at the auction Monday as demand continued to increase after the central bank confirmed its commitment to further monetary policy easing this year.
Strong demand for Treasury bills (T-bills) at Monday’s auction led to a drop in average rates for shorter-dated securities while keeping the yield on one-year paper stable. The Bureau of the Treasury received tenders worth ₱90.6 billion for the ₱22 billion in bills offered, a sign of robust investor appetite.
A major milestone was reached in the Davao City Bypass Construction Project as the north and south portals of the second mountain tunnel were successfully connected, marking a significant achievement for engineers and commuters alike.
The board of UBx Philippines, the fintech subsidiary of Union Bank of the Philippines, has appointed Dan Marogy as its new chief executive officer, effective Monday, September 1.
The Philippines remained a net importer of agricultural products in July, as total import receipts continued to dwarf exports despite a double-digit surge in outbound shipments, data from the Philippine Statistics Authority (PSA) showed.