MIXED. The rates of Treasury bills (T-bills) register a different path on Monday (Nov. 28, 2022), resulting in the partial award for the six-month and one-year papers. National Treasurer Rosalia de Leon, however, said rates accepted during the T-bill auction are in line with those in the secondary market. (Photo courtesy of the BTr)

MANILA – The Bureau of the Treasury (BTr) made a full award for the three-month Treasury bill (T-bill) on Monday but partially awarded the six-month and one-year papers as rates posted mixed results.

It offered all tenors for PHP5 billion each but only the 92-day T-bill, which is a day longer due to adjustment since the maturity of the original tenor falls on a holiday, was fully awarded after its average dipped to 4.205 percent from 4.375 percent during the auction last November 21.

The 183-day paper was awarded for PHP2.1 billion and the 365-day for PHP2.520 billion. Both securities were also a day longer than their original tenors.

The average rate of the six-month paper declined to 4.920 percent from 4.921 percent last week while the one-year’s rose to 5.150 percent from 5.142 percent previously.

Total bids for the six-month securities amounted to PHP5.780 billion while it totaled to PHP4.020 billion for the one-year T-bill.

“Rates were aligned with secondary level and award provides good supply to market to deploy short term liquidity,” National Treasurer Rosalia de Leon told journalists in a Viber message. (PNA)