MANILA – The Bureau of the Treasury (BTr) doubled the accepted volume of non-competitive bids for the one-year Treasury bill (T-bill) on Monday, and fully awarded both the three- and six-month papers due to strong demand.
All tenors were offered for PHP5 billion but the auction committee upsized to PHP7 billion the award for the one-year paper after its rate fell to 1.582 percent from 1.597 percent during the auction last September 20.
The average rate of the 91-day paper moved sideways to 1.060 percent from last week’s 1.070 percent and the 182-day’s rate to 1.385 percent from the previous auction’s 1.389 percent.
“Liquidity (is) very much around and (there is) PHP22 billion in maturities this week,” National Treasurer Rosalia de Leon told journalists in a Viber message.
De Leon said placements remain in “short tenor buckets.”
Total bids for the three-month paper reached PHP17.24 billion, while it amounted to PHP21.505 billion for the six-month paper and PHP25.12 billion for the one-year paper. (PNA)
