Business, Finance & Technology
Business Technology, Finance Technology & Information Technology
The rate on PH 7-year T-bonds has risen.
MANILA, Philippines — On Tuesday, the yield on a seven-year Treasury bond (T-bond) increased, owing to anticipation of increasing Federal Reserve rates.
The debt paper’s average rate rose to 5.779 percent, up from 5.601 percent previously.
The debt paper was auctioned by the Bureau of the Treasury (BTr) for PHP35 billion, and the auction committee made a complete award. The total amount of tenders received were P HP47.336 billion.
In a Viber message to journalists, National Treasurer Rosalia de Leon said, “Rates higher with more aggressive Fed pivot with increasing calls for (a) half-point boost to contain scorching US inflation.”
The Federal Reserve raised benchmark interest rates by 25 basis points last month, for the first time since December 2018, to a range of 0.25 to 0.50 percent.
This comes as the US consumer price index (CPI) has been above 7% since January, the highest level in four decades.
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