{"id":93752,"date":"2017-03-13T18:48:04","date_gmt":"2017-03-13T22:48:04","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=93752"},"modified":"2017-03-13T18:48:04","modified_gmt":"2017-03-13T22:48:04","slug":"phl-t-bill-rates-up-across-the-board-monday","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/03\/13\/phl-t-bill-rates-up-across-the-board-monday\/","title":{"rendered":"PHL T-bill rates up across the board Monday"},"content":{"rendered":"
\"Rate<\/a>
Rate of the benchmark three-month paper inched up to 2.374 percent from the 2.25 percent during the auction last Feb. 13, which Deputy Treasurer Erwin Sta. Ana said was in line with expectations. (Photo: Bureau of Treasury<\/a>)<\/figcaption><\/figure>\n

MANILA, March 13 (PNA) – Average rate of the Philippine government\u2019s Treasury bills (T-bills) rose Monday on higher probability of increase in Federal Reserve rates.<\/p>\n

Rate of the benchmark three-month paper inched up to 2.374 percent from the 2.25 percent during the auction last Feb. 13, which Deputy Treasurer Erwin Sta. Ana said was in line with expectations.<\/p>\n

\u201dIt\u2019s expected given that preference on shorter-dated notes and we feel that it\u2019s within our estimates internally,\u201d he said, citing high expectations for a hike in the Federal Reserve rate this month as the main driver of increase in the rates.<\/p>\n

The Bureau of the Treasury (BTr) offered the securities for Php 6 billion and tenders reached Php 17,443 billion. The auction committee, thus, made a full award.<\/p>\n

The auction committee also made a full award for the six month paper at Php 5 billion after tenders amounted to Php 11.235 billion. Average yield of this tenor rose to 2.60 percent, up from the 2.46 percent in the previous auction.<\/p>\n

The average rateof one-year paper also went up to 2.79 percent from 2.76 percent previously.<\/p>\n

Tenders for the one-year bill amounted to Php 6.665 billion, higher than the Php 4 billion offering.<\/p>\n

Sta. Ana said Monday\u2019s auction was better than in the past after the Php 15 billion offering got bids more than twice higher at Php 35.343 billion.<\/p>\n

\u201dThis represents, I think, the market\u2019s preference over short tenors and of course it\u2019s also an indication that the system is pretty liquid,\u201d he said.<\/p>\n

The BTr official said banks were also starting to look for other investment instruments for the funds from their trust units that would be banned from the Bangko Sentral ng Pilipinas\u2019 (BSP) overnight deposit facilities.<\/p>\n

\u201dI think it\u2019s helping us in the government security side and that actually helps in terms of the demand of our securities,\u201d he said.<\/p>\n

With the expected rise of interest rates as a result of the possible Fed rate hike this month and the eventual capital flight to the US, Sta. Ana said the government would continue to be pro-active on its liability management program.<\/p>\n

\u201dThat means that we are also open to exploring other funding alternatives to the Republic so we are currently evaluating our options although those are currently on the drawing board at this stage,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA, March 13 (PNA) – Average rate of the Philippine government\u2019s Treasury bills (T-bills) rose Monday on higher probability of …<\/p>\n","protected":false},"author":33,"featured_media":93753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[16545],"class_list":["post-93752","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-philippine-t-bill","mauthors-joann-santiago","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/93752","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=93752"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/93752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/93753"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=93752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=93752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=93752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}