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T-bill rates down across the board |
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by Donnabelle Gatdula
The Philippine Star 08/02/2005 Treasury Bill (T-bill) rates went down across the board on positive economic outlook, analysts said yesterday. Rates for the bellwether 91-day T-bills went down to 5.589 percent from the previous week’s 5.632 percent. Yields for the 182-day T-bills also declined to 7.397 percent from the previous 7.401 percent while that of the 364-day bills went down to 8.397 percent from 8.417 percent a week ago. Finance Undersecretary Roberto Tan attributed the softening in T-bill rates on the market’s positive outlook. "Investors now are getting more focused on economic situation rather than political noise," he said. With the improvement in rates, Tan said they are now reviewing the possibility of reentering the international financial market. "When opportunity will come, we are very alert on that. When the timing is right," he said. The National Government plans to raise up to $850 million from the international bonds market. Tan, however, said the issue on expanded value-added tax (EVAT) may be one of the considerations they would look at before tapping the global bonds market. "It could be a welcome news if the Supreme Court will make a favorable decision," Tan said. Tan said that the market is "awash with cash" as tenders for all maturities went beyond the P6-billion mark. The government accepted only P2 billion out of total tenders worth P6.155 billion for the 91-day T-bills. |
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