The government was unable to raise the total P15-billion target amount from the sale of T-bills, marking the second week of mixed auction results as investors sought higher yields in the aftermath of BSP' 50-basis point (bps) rate hike.
THE government was unable to raise the total P15-billion target amount from the sale of Treasury bills , marking the second week of mixed auction results as investors sought higher yields in the aftermath of Bangko Sentral ng Pilipinas’ 50-basis point rate hike.
Nonetheless, the T-bills auction remained oversubscribed with the total amount offered reaching P30.318, more than double the target amount of P15 billion. The average rates for each T-bills tenor were as follows: 4.413 percent for 91-day, 5.060 percent for 182-day, and 5.455 percent for 364-day. The BSP said the interest rates on the overnight deposit and lending facilities will be set to 5.5 percent and 6.5 percent, respectively.
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