At Monday’s auction, April 4, yields on short-term government debt papers declined, with the returns on the 91-day Treasury bill dropped to 1.380 percent from 1.587 percent fetched last week.
The government accepted all P5 billion worth of bids for the six-month IOU as banks were willing to lend up to P14.179 billion. “Finally, it is a full award,” National Treasurer Rosalia V. De Leon told reporters after the auction. Last week, the Treasury bureau announced that the government will borrow P200 billion from the domestic market in April, less than the P250 billion set for March.
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