MANILA, Philippines – The Bureau of the Treasury (BTr) sold P7.185 billion worth of Treasury bills (T-bills) in an auction yesterday, the last debt sale under the Arroyo administration.
The average rates across all tenors moved sideways, allowing the auction committee to make a full award for the 92 and 183-day T-bills.
For the 365-day T-bill, however, the Treasury had to settle for a partial award to temper the rise in rates.
The maturities for all tenors were extended for one day because the settlement period – which usually takes two days – had to be shortened given the national holiday on Wednesday, June 30.
The average rate of the three-month paper stood at 3.927 percent or 0.8 basis point higher than the previous rate of 3.919 percent. Total tenders for this paper reached P4.570 billion or more than double the P1.5 billion it offered to banks.
For the six-month paper, the average rate stood at 4.155 percent compared to the previous rate of 4.129 percent or 2.6 basis points higher. Investors tendered a total of P5.630-billion, almost double the programmed P3-billion debt sale.
On the other hand, the government had to settle for a partial award for the one-year paper even as investors tendered a total of P6.535 billion.
The average rate of the one-year paper stood at 4.619 percent from 4.566 percent previously. The auction committee awarded P2.685 billion worth of the paper instead of the original plan of P3.5 billion.
Had the committee opted for a full award, the average rate would have risen to 4.636 percent.
National Treasurer Roberto Tan said the results of yesterday’s auction were within expectations. “We just went sideways for all tenors as forecasted,” Tan said. –Iris C. Gonzales (The Philippine Star)
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International Equal Pay Day
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more than other cost items.
For widespread, practical equality!”
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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