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T-bill demand drops further

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Demand for the government’s short-term securities dropped further, hitting the lowest level in three months, with rates rising across the board amid continued conflict in the Middle East.

The Bureau of the Treasury yesterday made a partial award of P11.947 billion out of the P15 billion on offer.Week-on-week, overall demand for the short-term securities declined by 14 percent to P19.371 billion. The auction was oversubscribed by 1.291 times.

Rates yesterday went up across the board in comparison with the reference rates, as well as on a weekly basis. The 182-day short-dated debt papers saw rates rise by 6.1 basis points to 6.207 percent and also above last week’s level of 6.115 percent. For this month, the Treasury targets to raise P150 billion from the domestic debt market. Of this, P60 billion is expected to be borrowed from T-bills.SPOTTED: SB19, Mimiyuuuh share what it means to be authentic at Pepsi Pulse 2023On Oct. 7, Islamic militant group Hamas carried out a coordinated attack that surprised Israel and resulted in over 1,000...

ACEN Corp., the listed energy platform of the Ayala Group, has secured a fresh debt deal with a local bank to beef up its...

 

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