MANILA – The Bureau of the Treasury (BTr) has raised PHP20 billion from the Treasury bills auction on Monday.
“The auction was 3.8 times oversubscribed, with bids reaching PHP76.3 billion,” the BTr said in a statement.
Offering for the 92- and 182-day debt papers are worth PHP6.5 billion each, and PHP7 billion for the 364-day T-bills.
The average rates for the T-bills were 5.196 percent for the 92-day paper, 5.005 percent for the 182-day T-bills, and 5.478 percent for the 364-day paper.
These rates are lower than the previous and prevailing secondary market rates.
“Treasury bill average auction yields continued to decline, similar to the week-on-week decline in the comparable short-term PHP BVAL yields, which are now mostly higher than the T-bill average auction yields, after recent signals of at least -0.50 in local policy rates for the rest of 2024,” Rizal Commercial Banking Corp. chief economist Michael Ricafort said. (PNA)
