Short-term benchmark interest rates moved sideways amid Omicron threat.

At the Bureau of the Treasury auction on Monday, Dec. 6, yields on three- and six-month debt papers went down, while the interest rate for the one-year IOU slightly inched up.

“Bias continues on short end with Omicron uncertainties,” National Treasurer Rosalia V. De Leon told reporters after the auction.

De Leon added that investors were also awaiting the November inflation report to be released on Tuesday, Dec. 7.

The yield on the bellwether 91-day Treasury bill, which banks use to price their loans, dropped to 1.155 percent from 1.164 percent at the previous sale. The 182-day T-bill rate, likewise, fell to 1.443 percent from 1.449 percent previously.

Meanwhile, the 364-day rate rose to 1.643 percent from 1.636 percent previously.

The treasury bureau accepted P10 billion worth of bids as it had planned to sell. Investors, however, were willing to buy more, as tenders reached P41.28 billion.

Source: Manila Bulletin (