T-bill rates further down following interest rate, RRR cuts

MANILA, Philippines --- T-bill rates further fell across the board amid strong demand from investors following a cut in big banks' reserve requirements last week, allowing the Bureau of the Treasury to sell all P15 billion it offered Monday.   The Treasury awarded P4 billion in the benchmark 91-day IOUs at an average rate of 5.258 percent, down from 5.389 percent last week.   It also sold P5 billion in 182-day treasury bills at 5.7 percent, down from 5.768 percent previously.   Also fully awarded were P6 billion in 364-day T-bills at an annual rate of 5.869 percent, down from 5.936 percent a week ago.   The yields were also below secondary mark...

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