During yesterday’s auction, the Bureau of the Treasury (BTr) partially awarded 91-day T-bills to temper down the rates asked by the market. As a result, the securities fetched an average rate of 3.549 percent, 32.4 basis points higher than the 3.225 percent recorded last week. The rate was 25.2 basis points higher than the previous auction’s level of 4.101 percent. The securities fetched an average rate of 5.137 percent, 23.8 basis points higher than the 4.899 percent posted last week. “They’re already saying that BSP should be hiking by another 50 basis points.

Source: Philippine Star September 10, 2018 15:36 UTC