With another round of reduction in banks’ reserve requirement next week to release more liquidity into the system, T-bill yields again declined across the board Monday with the Bureau of the Treasury selling all P15 billion in IOUs offered.
The Treasury awarded P4 billion in the benchmark 91-day debt paper at a 4.453-percent yield, down 10.2 basis points (bps) from 4.555 percent last week.
It also sold P5 billion in 182-day Treasury bills at 4.856 percent, down 6.7 bps from 4.923 percent previously.
The 364-day T-bills, all P6 billion of it, fetched a yield of 5.05 percent, down 1.9 bps from last week’s 5.069 percent.
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In a statement, the Treasury said the average rates for all three tenors were below secondary market levels.
In all, tenders totaled P43.1 billion, making the auction almost three times oversubscribed.
