MANILA – The national government raised the planned PHP15 billion from the Treasury bills (T-bills) auction on Monday.
The Bureau of the Treasury (BTr) fully awarded bids for T-bills at today's auction.
The 91-, 182-, and 364-day T-bills fetched average rates of 5.306 percent, 5.766 percent and 6.037 percent, respectively.
These were slightly higher than the 5.226 percent, 5.685 percent, and 5.999 percent average rate of the 91-, 182-, and 364-day T-bills on Jan. 15, 2024.
The auction was 2.3 times oversubscribed, attracting PHP35 billion in total tenders.
Rizal Commercial Banking Corporation chief economist Michael Ricafort said T-bills average auction yields corrected higher for the fifth straight auction.
"[This was] after reiteration over the weekend on hawkish signals by local monetary authorities in terms of keeping sufficiently tight monetary policy settings until there is a sustained downward trend in inflation despite the recent easing trend," Ricafort said.
"Treasury bill auction yields continued to correct higher after some volatility in the U.S. dollar/peso exchange rate recently to among 2.5-month highs, now at 56.30 levels," he added. (PNA)
