MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills).
The 92-, 183-, and 365-day T-bills fetched average rates of 5.869 percent, 5.988 percent, and 6.081 percent, respectively, ending lower, if not flat, from the previous auction.
Last week, the 91-, 182-, and 364-day T-bills fetched an average rate of 5.888 percent, 6.002 percent, and 6.080 percent.
"Treasury bill average auction yields mostly corrected slightly lower week-on-week after Middle East tensions somewhat subsided for now between Israel and Iran with no new retaliation for more than a week already," said Rizal Commercial Banking Corporation chief economist Michael Ricafort.
"T-bill auction yields also mostly corrected lower after the recent signals on no local policy rate hike despite weaker peso recently," he added.
The auction was 3.4 times oversubscribed, attracting PHP51.2 billion in total tenders.
With its decision, the BTr raised the full program of PHP15.0 billion for the auction. (PNA)
