Treasury bill auction yields fall deeper into negative territory
According to the Treasury and Public Debt Management Agency (IGCP), Portugal auctioned €1.25 billion, the maximum amount announced, in three and 11-month Treasury Bills (t-bills).
Portugal on Wednesday auctioned €1.25 billion, the maximum amount announced, in three and 11-month Treasury Bills (t-bill), at lower interest rates in both maturities compared to previous comparable auctions, it was announced.
According to the page of the Treasury and Public Debt Management Agency (IGCP) on the Bloomberg agency, at 11 months €958 million were auctioned at an average yield of -0.555%, slightly lower than that recorded on June 16, when €750 million were auctioned at an average yield of -0.550%.
At three months, €292 million went at an average yield of -0.610%, lower than on 16 June, when €500 million was auctioned at -0.592%.
The demand reached €1.66 billion for the 11-month maturity, 1.74 times the amount placed, and €1.08 billion for three-month maturity, 3.69 times the amount placed.
IGCP announced today two treasury bill auctions with maturities on May 20, 2022 (three months) and January 20, 2023 (11 months).
Today’s auctions are the first t-bill auctions this year with these maturities after the IGCP cancelled two other t-bill auctions of three and 11 months scheduled for 18 August last year and only held one t-bill auction of 12 months in the second half of 2021.
Meanwhile, this year, the IGCP auctioned on January 19 €1.5 billion in t-bill, the maximum indicative amount, but at six and 12 months, with interest rates falling in the shorter term and rising in the longer one, it was
