The Bureau of the Treasury received mixed results at Monday’s (April 5) auction, but allowed the government to raise P25 billion as planned.

 Interest rates for three-month treasury bills  increased to 1.295 percent from 1.269 percent in the previous week, while the six-month notes inched up to 1.646 percent from 1.609 percent.

 The one-year debt instruments, on the other hand, declined to 1.912 percent from 1.926 percent. The auction was almost thrice oversubscribed with tenders reaching P67.5 billion.  

National Treasurer Rosalia de Leon said risk aversion drove strong buying interest on safe haven assets particularly on front end with inflation print seen the same as last month.

The national government opened its tap facility to accommodate additional P5 billion worth of offers of 364-day Treasury bills.

Source: Manila Bulletin (