Concerns over the possible imposition of stricter movement restrictions because of the Delta variant of the coronavirus disease 2019 (Covid-19) resulted in the sideways change on Treasury bill (T-bill) rates on Monday.
The average rate of the 91-day paper moved to 1.050 percent, the 182-day to 1.407 percent, and the 364-day to 1.638 percent.
These were at 1.082 percent, 1.401 percent, and 1.629 percent, respectively, during the auction on July 19.
Offer volume for each tenor is at PHP5 billion and the Bureau of the Treasury’s (BTr) auction committee made a full award across the board.
Bids for the three-month paper reached PHP18.327 billion while they amounted to PHP13.75 billion for the 182-day T-bill and PHP10.95 billion for the 364-day debt instrument.
“(Rates) moved sideways amidst growing concerns on possible stricter restriction,” National Treasurer Rosalia de Leon told journalists in a Viber message.
The government has reported an uptick in the number of Covid-19 infections caused by the Delta variant, which experts said are more contagious.
Source: Philippines News Agency
