Full awards were made Monday’s T-bill auction with a Treasury official noting that investors were waiting for news as to who would be the next US Federal Reserve chief. AdvertisementsThe yield for the benchmark 91-day T-bill declined to 1.957 percent from 1.958 percent during the auction last October 9. Another factor is the soon-to-be Fed chair’s stance with regard to a rate hike expected this December, she added. Bids totaled to P12.629 billion, more than thrice the P4-billion offering that was also fully awarded..De Leon said the result was “marginal”. “And given the chance of a rate hike in December so I think that is also incorporating that,” she added.

Source: Manila Times October 23, 2017 17:26 UTC