MANILA – All tenors of Treasury bills (T-bills) on Monday fetched higher yields for three straight auctions.
The PHP15-billion T-bills offering was oversubscribed at PHP22.6 billion, the Bureau of the Treasury (BTr) said.
Despite the higher tenders, the auction committee only awarded PHP12.5 billion.
The rates for the 91-day T-bills settled at 5.806 percent, higher than last week’s yield of 5.698 percent; 182-day paper to 6.115 percent from 6.023 percent; and 364-day tenor to 6.305 percent from 6.215 percent in last week’s bidding.
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort cited some factors that led to higher yields at the auction, such as the sudden eruption of the Israel-Hamas war, increased bond yields at the United States Treasury and hawkish signals from local monetary authorities on their readiness to resume monetary policy, among others.
For October, the BTr targets to raise PHP60 billion from T-bills auction. (PNA)
