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Government raises P60 billion from sale of T-bills

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Bureau Of The Treasury News

The government managed to borrow P60 billion in short term securities this June, hitting its target for the sixth straight month.

The Bureau of the Treasury yesterday made a full award of P15 billion for the last T-bills auction for the month.MANILA, Philippines —

T-bill rates this month trended downward due to the dovish signals from the Bangko Sentral ng Pilipinas . Rates for the 91-day offer moved down by 6.2 basis points to 5.666 percent from the 5.728 percent secondary rate but were stuck from last week’s level. He noted that the higher-for-longer signals from the Fed due to still elevated inflation would continue to influence the BSP.

Bloomberg had an article last week that heralded how “The Philippines has leapfrogged its Southeast Asian neighbors to become a regional leader in planned clean-power projects as fewer investment restrictions...

 

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