MANILA – The Bureau of the Treasury (BTr) partially awarded both the three and six-month Treasury bills (T-bills) on Monday but fully awarded the one-year paper despite the rate uptick across-the-board.
It offered all tenors for PHP5 billion each but only awarded PHP3.781 billion worth of 91-day paper and PHP4.056 billion worth of 182-day securities.
This, after the average rate of the three-month paper rose to 4.664 percent and the six-month paper to 5.437 percent.
During the auction last March 6, the rate of the 91-day paper stood at 4.586 percent and the 182-day at 5.378 percent.
Similarly, the rate of the one-year T-bill rose to 5.717 percent from 5.707 percent in last week’s auction.
Total bids for the three-month paper reached PHP6.091 billion while it amounted to PHP7.816 billion for the six-month paper and PHP7.722 billion for the one-year paper.
“Partial award for 91- and 182-day but full award for one-year to ensure rates are within secondary levels,” National Treasurer Rosalia de Leon told journalists in a Viber message. (PNA)
