LOWER RATES. The Bureau of the Treasury in Intramuros, Manila. The BTr said the 91-, 182-, and 364-day T-bills fetched average rates of 6.123 percent, 6.513 percent and 6.560 percent, on Monday (Nov. 13, 2023). (File photo)
MANILA – The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills).
The 91-, 182- and 364-day T-bills fetched average rates of 6.123 percent, 6.513 percent and 6.560 percent, respectively.
"The Treasury bill average auction yields corrected lower week-on-week after rising for 7 straight weeks after slower-than-expected headline inflation at 4.9 percent, moving closer to the BSP (Bangko Sentral ng Pilipinas) inflation target range of 2-4 percent," Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said in a Viber message.
Last Oct. 6, the average rate of 91-, 182- and 364-day T-bills settled at 6.352 percent, 6.536 percent and 6.591 percent.
"T-bill auction yields also corrected lower after the national government debt-to-GDP (gross domestic product) ratio further eased to 60.2 percent, the lowest in more than two years, versus the 17-year high of 63.7 percent a year ago after faster economic growth at 5.9 percent as of 3Q (third quarter) 2023," Ricafort said.
The auction was 3.1 times oversubscribed, attracting PHP46.4 billion in total tenders.
The BTr raised the full program of PHP15 billion for the auction. (PNA)
