T-bill yields mixed ahead of BSP meeting despite US-Iran deal

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MANILA, Philippines – Yields on short-term government securities ended mixed on Monday as investors weighed a tentative U.S.-Iran peace deal and a possible BSP rate hike this week.

Auction results from the Bureau of the Treasury (BTr) showed that the government raised P89.6 billion out of its P90-billion program. Still, total demand reached P92.1 billion, or 1.8 times the amount offered.

READ: Trump says US-Iran deal to be signed Sunday, Hormuz to open afterwards

LIkewise, the BTr sold cash management bills (CMBs) to address temporary government funding gaps.The government raised P39.6 billion from the 35-day and 63-day CMBs, falling short of its P40-billion target.