Govt raises P770m debt

Two Treasury Bills (T-Bill) were offered in the December 29 auction which capped a period in which the central bank has seen declining yields for the notes it has been floating. The three-month bill, which offered P400 million, received bids worth P1.2 billion, with P300 million ultimately being allocated by the BoB.

The six-month T-Bill offered P370 million and received bids of P1.26 billion, with P470 million ultimately allocated. Yields at the auction eased, with the stop-out yield for the three-month dropping to 3.76% from 4.37% at the November auction. The stop out yield on the six-month T-Bill eased to 4.04% from 4.55% in November.