{"id":91492,"date":"2017-02-27T20:44:26","date_gmt":"2017-02-28T01:44:26","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=91492"},"modified":"2017-02-27T20:44:26","modified_gmt":"2017-02-28T01:44:26","slug":"banks-demand-for-more-phl-t-bills","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/02\/27\/banks-demand-for-more-phl-t-bills\/","title":{"rendered":"Banks demand for more PHL T-bills"},"content":{"rendered":"
\"The<\/a>
The Bureau of the Treasury (BTr) offered a total of Php 15 billion worth of 91-, 182-, and 364-day securities but bids reached Php 23.105 billion. (Photo: Bureau of the Treasury-Intramuros, Manila\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014Banks’ appetite for government-issued Treasury bond (T-bond) rose across-the-board Monday.<\/p>\n

The Bureau of the Treasury (BTr) offered a total of Php 15 billion worth of 91-, 182-, and 364-day securities but bids reached Php 23.105 billion.<\/p>\n

Deputy Treasurer Erwin Sta. Ana told reporters after the auction that result of this week’s auction was better than in the past.<\/p>\n

This after the benchmark three-month paper, which was offered for Php 6 billion attracted Php 8.57 billion bids, the six-month bill received Php 5.13 billion bids, more than the Php 5 billion offering, and the Php 4 billion offering for the one-year T-bond received bids that were more than twice at Php 9.405 billion.<\/p>\n

The auction committee made a full award for both the 91-day and 364-day tenors but awarded only Php 2.43 billion for the six-month paper.<\/p>\n

Average yield for the shortest tenor T-bill stood at 2.36 percent while it was 2.58 percent and 2.76 percent for the six-month and one-year securities, respectively.<\/p>\n

Sta. Ana attributed the partial award for the 182-day bill to the “muted response” of banks on the T-bond offering.<\/p>\n

He said they still awarded some amount for this tenor “to manage the curve of the short end.”<\/p>\n

“We think that the reason why the 182 behaved like that is because of the anticipation of the moves from the Fed in the second half of the year,” he said.<\/p>\n

Sta. Ana said latest number on the probability of a hike in the Federal Reserve rates in the second half of this year hit around 40 percent recently and he expects the rate to increase further in the coming weeks.<\/p>\n

He said turn out of bids for the longest tenor T-bill came as a surprise given market’s recent preference for short term securities on account of the Fed rate hike anticipation.<\/p>\n

“So I think it has something to do of a perceived normalization of interest rate at a one year horizon,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014Banks’ appetite for government-issued Treasury bond (T-bond) rose across-the-board Monday. The Bureau of the Treasury (BTr) offered a total of …<\/p>\n","protected":false},"author":33,"featured_media":91493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[15865,15864],"class_list":["post-91492","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bureau-of-the-treasury","tag-treasury-bond","mauthors-joann-santiago","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/91492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=91492"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/91492\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/91493"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=91492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=91492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=91492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}