During yesterday’s auction, the 91-day Treasury-bills fetched an average rate of 3.769 percent, 11.4 basis points lower than the 3.883 percent recorded during the previous auction last week. Meanwhile, rates for the 182-day T-bills averaged 4.1 percent, 13.8 basis points down from last week’s level of 4.238 percent. “Earlier, in our survey, the comments made by the banks, particularly for the 91 day, is that it would move by five to 10 basis points. But as we saw…(rates) all across the tenor buckets are expelled by more than 10 basis points,” De Leon told reporters. “It shows the market expectations.

Source: Philippine Star July 22, 2019 16:00 UTC