Rate cut pause pushes up yields of T-bills

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The story "Rate cut pause pushes up yields of T-bills" was covered 6 days ago by Business Mirror, a news publisher based in Philippines.

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Rate cut pause pushes up yields of T-bills - Business Mirror

Quick Summary:

TREASURY bill (T-bill) yields went up across all tenors during Monday’s auction after monetary officials decided to hold the key policy rates steady last week.

Nevertheless, the Bureau of the Treasury (BTr) made a full award of its P22-billion T-bills auction despite investors asking for higher returns.Demands reached P56.275 billion, making the auction 2.6-times oversubscribed.

The unexpected pause in the key policy rate cut last week, which somewhat disappointed the markets, has caused the T-bill auction yields to increase, according to Michael L.