At the Bureau of the Treasury auction on Monday, April 25, yields on three- and six-month debt papers went down, while bids for the one-year IOU rose.
The yield on the bellwether 91-day Treasury bill, which banks use to price their loans, dropped to 1.140 percent from 1.223 percent at the previous sale last week. The Treasury sold the P5 billion worth of three-month debt papers on offer. Investors however were asking for P15.2 billion more of the government security or IOU.The government also sold P5 billion of the six-month debt papers. Investors were willing to buy more, with their bids reaching P13.44 billion.
Offers for the 364-day T-bills, meanwhile, inched up 1.901 percent from 1.877 percent a week earlier. Total tenders for the one-year paper amounted to P6.998 billion, of which the government accepted P5 billion as planned.