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Portugal's debt agency forgoes another T-bill auction

LISBON, Nov 13 (Reuters) - Portugal’s state debt agency IGCP said on Friday it had decided not to go ahead with an auction of Treasury bills, tentatively scheduled for next Wednesday, where it planned to sell up to 1.25 billion euros total of 6- and 12-month bills.

It did not provide an explanation for this second cancellation in a row. When it scuppered last month’s auction, traders said that the recent successful bond issuance at record low yields meant the Treasury likely had excess liquidity and did not need to issue short-term debt. (Reporting by Patricia Rua, Editing by Andrei Khalip)

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