The Bureau of the Treasury sold all P20 billion in treasury bills it offered on Monday.
The Treasury also reported robust demand for the one-year “premyo” bonds, with mostly individuals snapping up more than half of the P3-billion offering during the first week.
During Monday’s auction, the Treasury awarded P8 billion of the benchmark three-month debt paper at an average of 3.192 percent, up from 3.168 percent previously.
It also sold P6 billion in six-month securities at 3.348 percent, up from 3.249 percent.
National Treasurer Rosalia V. de Leon told reporters the higher rates followed market expectations that inflation would inch up next year.
The P6 billion in 364-day bills fetched an annual rate of 3.475 percent, down from 3.501 percent previously.
De Leon said the Treasury was “very encouraged by the reception” to its premyo bonds, especially among individuals—some of whom had to open deposit accounts in order for them to be able to participate.A week after offering the bonds on Nov. 25, De Leon said the Treasury already sold more than half of the P3-billion offer, with about 85-90 percent of the buyers coming from individual investors, and an increasing number of them buying the securities online through state-run lenders Development Bank of the Philippines and Landbank as well as First Metro Securities Brokerage Corp. INQ
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