National Treasurer Rosalia de Leon
MANILA – The rates of the Philippines treasury bills (T-bills) rose across-the-board Monday following the trend of US Treasuries.
The average rate of the 91-day paper increased to 0.875 percent, the 182-day to 1.067 percent, and the 364-day to 1.527 percent.
These were at 0.845 percent, 1.046 percent, and 1.416 percent for the three- and six-month, and one-year paper during the auction last Feb. 15.
“Adjustment is correction as US treasuries moved up with bright prospects for (the) Biden stimulus,” National Treasurer Rosalia de Leon told journalists in a Viber message Monday.
For one, the rate of the 10-year US Treasury bond rose to its nearly one-year high at around 1.39 percent.
Meanwhile, amid the rate uptick, all the T-bill tenors registered oversubscription thus, the full award for all tenors.
The Bureau of the Treasury (BTr) offered both the three- and six-month paper for PHP5 billion but bids reached PHP12.613 billion and PHP13.127 billion, respectively.
Tenders for the one-year paper amounted to PHP24.311 billion, more than twice the PHP10-billion offer.
The BTr offered this tenor for PHP5 billion over the tap facility window but it has yet to release the results. (PNA)
