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Yields on T-bills seen mixed this week

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Yields of the government securities on offer this week will likely end mixed amid market expectation on a big issuance from the Bureau of the Treasury (BTr).

The Treasury is offering today P15 billion worth of Treasury bills (T-bills). Broken down, the BTr will raise P5 billion and P4 billion in three- and six-month papers, respectively, and another P6 billion in one-year bills.

BTr will also offer P10 billion in reissued seven-year Treasury bonds (T-bonds) with a remaining life of six years and 11 months.

Traders interviewed Friday said yields on the T-bills will likely end mixed since investors still prefer short-dated securities. — Karl Angelo N. Vidal