MANILA, Philippines — T-bill rates further fell across-the-board on Monday, with the yield for the benchmark 91-day dropping below 1 percent alongside the country’s record-low policy rate.
The Treasury awarded all P5 billion in the three-month debt paper it offered at 0.986 percent, down from 1.019 percent last week.
National Treasurer Rosalia V. de Leon said the Treasury expects rates of short-dated securities to “trend downward,” fueled by investors’ bias for the front end amid high domestic liquidity volume.
Last week, the Bangko Sentral ng Pilipinas (BSP) made a surprise 25-basis point (bp) cut in the policy rate to 2 percent in a bid to support the economy following a worse…
Keep on reading: 91-day T-bill rate falls to 0.986%