Manila: The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during Monday’s auction. The 91-, 182-, and 364-day T-bills fetched average rates of 5.573 percent, 5.667 percent, and 5.697 percent, respectively.
According to Philippines News Agency, last week, the average yield of the 91-, 182-, and 364-day T-bills were lower at 5.546 percent, 5.655 percent, and 5.688 percent. Rizal Commercial Banking Corporation chief economist Michael Ricafort stated that the latest T-bill average auction yields were higher following the latest upward correction in the benchmark 10-year US Treasury yield at 4.31 percent.
The auction was almost 3.0 times oversubscribed, attracting PHP74.2 billion in total tenders. With its decision, the Committee raised the full program of PHP25 billion for the auction.
