MANILA – The country’s Treasury bill (T-bill) rates rose on Monday partly on expectations for Federal Reserve rates tightening starting March 2022.
The average rate of 91-day debt paper increased to 0.810 percent, the 182-day to 1.066 percent, and the 364-day to 1.475 percent.
These were 0.710 percent, 1.022 percent, and 1.408 percent for the three-month, six-month, and one-year T-bills during the auction last February 7.
The Bureau of the Treasury (BTr) offered each of the tenors for PHP5 billion and all of which were fully awarded.
Total tenders for the three-month paper reached PHP13.57 billion while it amounted to PHP14.79 billion for the six-month paper and PHP12.874 billion for the one-year tenor.
“Rates moved up with heightened concerns on Ukraine and speculations of Fed hiking rates by as much as 50 bps (basis points) in March,” National Treasurer Rosalia de Leon told journalists in a Viber message.
The Fed is projected to start hiking key rates by next month to help address the rising inflation rate, which accelerated to its four-decade high 7.5 percent last January.
Tensions are escalating as Russia reportedly deployed more troops at the border with Ukraine. (PNA)
