The national government raises P15 billion through the sale of short-term IOUs on Monday.The yield on the 182-day T-bill also decreases to 5.991 percent from the previous 6.109 percent.The Bureau of Treasury accepted a total of P15 billion during Monday's, May 15 auction as benchmark yields for short term loans declined allowing the national government to borrow as planned, although demand across the board reached P59.596 billion.
The Treasury sold the P5 billion worth of three-month debt papers on offer. Investors were asking for P14.642 billion of the government security or IOU. The interest rate on six-month papers also settled lower compared with the secondary market rate of 6.057 percent.
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