RP rejects all bids at Treasury bill auction


Posted at Feb 09 2009 03:34 PM | Updated as of Feb 09 2009 11:34 PM

The Bureau of Treasury rejected all bids at a regular auction of T-bills worth a total of P7 billion ($149 million) on Monday after banks demanded a slightly higher premium for the debt papers.

Traders said earlier on Monday yields on government debt papers would be pressured this week by selling from some investors preparing for possible corporate bond issues in the coming weeks.