T-bill rates fell across the board after interest rate cut

MANILA, Philippines --- Rates fell across the board after the Bangko Sentral ng Pilipinas (BSP) cut interest rates last week, allowing the Bureau of the Treasury to fully award P15 billion in T-bills Tuesday. The Treasury sold P4 billion in the benchmark 91-day IOUs at an average rate of 5.389 percent, down from 5.438 percent previously. It also awarded P5 billion in 182-day T-bills at 5.768 percent, down from 5.825 percent last week. As for the P6 billion in 364-day treasury bonds, its annual rate declined to 5.936 percent from 5.977 percent a week ago. Tenders totaled P54.6 billion across the three tenors, making the auction more than three times oversubscribed. "We're e...

Keep on reading: T-bill rates fell across the board after interest rate cut

from INQUIRER.net http://bit.ly/2Q2o7h7