T-bill yields go up at the MinFin auctionYields of one-year treasury bills increased to 18.676% at yesterday's auction conducted by the Finance Ministry, from 18.605% a week ago. The yields on 13-week bills increased from 17.439% to 17.517%, while the yields of the 26-week treasuries dropped from 19.095% to 18.507%. The ministry sold a total worth of bills for PLN 495.69mn (USD 112.7mn) out of the PLN 500mn (USD 113.6mn) offered, while the demand amounted to over PLN 2.23bn (USD 507.7mn). Traders expect that if RPP raises interest rates at its meeting tomorrow by 200bps, the yields should increase to 18.85%-18.90%. If the rates remain at the current level, the yield should drop to about 18.0%. The next auction will be held on Sep. 4, at which the Finance Ministry will offer PLN 400mn worth of bills, half of which 52-week ones, and the other half -- the 13-week bills.