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The US Treasury sold Monday $ 15 billion of treasury bills at 91.5 billion euros, an average rate of 3.261%. The rate of 4.25 basis points (3.919%) against 3.219% last week
In addition, P5 billion 182-day Treasury bills were issued at 4.294%, up 5.9% from 4.235% % at the last auction. The 364-day IOUs, meanwhile, were sold at an annual rate of 4.9%, a slight move of 9.1 basis points from 4.809% last week.
In a statement, the Treasury notes a "market appetite". for the three tenors totaled 35.816 billion pesos, which made the auction more than twice oversubscribed.
Offers for 92 days reached 9.585 billion pesos; for 182 days, 13.054 billion pesos; Rosalia V. de Leon, 364-day national treasurer, told reporters that the Treasury was waiting for the market to look for "differential" returns after Bangko Sentral ng Pilipinas promised a "strong response" to The BSP governor, Nestor A. Espenilla Jr., said the Monetary Council was considering "a strong monetary adjustment follow-up" when it will meet to decide the interest rate policy on Aug. 9. 19659002] BSP has already doubled the key rate, which is now 3.5%, after overall inflation peaked at 5.2% last month and averaged 4.3% in the first quarter. semester, already above the year De Leon added that the market also expected steady economic growth in the United States, boosted by the US Federal Reserve with its continuous tightening cycle.
De Leon nevertheless pointed out that the increases in the "They are at least 5-10 bps unlike before when you saw a double digit in the range of 30 bps." So, I think, hopefully, that's This is also the beginning of the cap on rates, "de Leon said.
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