PARTIAL AWARD. The Bureau of the Treasury (BTr) partially awarded Monday (Sept. 5, 2022) the three-month and six-month Treasury bills (T-bills) and rejected tenders for the one-year paper after investors asked for high yields. National Treasurer Rosalia De Leon traced the partial award to demand for higher rates. (Photo screengrabbed from BTr Facebook page)
MANILA – The Bureau of the Treasury (BTr) partially awarded 91- and 182-day Treasury bills (T-bills) on Monday due to rate uptick but fully rejected bids for the 364-day tenor.
It offered all tenors for PHP5 billion each but awarded PHP4.543 billion worth of three-month paper and PHP2.525 billion for the six-month tenor.
Bids reached PHP10.923 billion for the three-month paper, PHP10.629 billion for the six-month, and PHP5.101 billion for the one-year paper.
The average rate of the shortest tenor rose to 2.318 percent from 2.070 percent during the auction last Aug. 22.
The auction committee rejected all bids for the T-bills during the auction last Aug. 30.
The rate of the six-month paper increased to 3.485 percent from 3.336 percent last Aug. 22.
Had the auction committee awarded the one-year T-bill, its average rate would have risen to 4.356 percent from 3.782 percent during the auction last Aug. 22.
“Rates way above current levels,” National Treasurer Rosalia de Leon said. (PNA)
