Short-term benchmark interest rates moved slightly during Monday’s auction (May 24). 91-day Treasuries hit an interest rate of 1.269 percent, down slightly from 1.270 percent the week before.
The three-month public debt recognition request reached 16.96 billion pesos, but the Treasury Office only accepted 5 billion pesos of the total tenders.
The yield on 182-day T-bills, meanwhile, edged up from 1.540% to 1.541% as investors were willing to buy 20.28 billion pesos from six-month IOUs.
The government only accepted 8 billion pesos. The 365-day treasury bill interest rate fell to 1.796% from 1.810% the week before, with total bidding for the one-year paper rising to 38.59 billion pesos , which the government only accepted 12 billion pesos. The Treasury opened its diversion facility for an additional one-year IOU of 5 billion pesos. The auction was oversubscribed more than three times, with the auction total reaching 75.8 billion pesos. The national government raised the entire program to 25 billion pesos.
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