Article by:
Anna Leah Gonzales
MANILA – The Bureau of the Treasury (BTr) partially awarded Treasury bills (T-bills) on Monday due to higher bid yields.
The 91-, 182-, and 364-day T-bills fetched average rates of 4.900 percent, 4.948 percent, and 5.066 percent, respectively, all higher than last week’s rates of 4.677 percent, 4.795 percent, and 4.849 percent.
The BTr’s auction committee awarded PHP19.2 billion of the PHP27-billion offering after partially awarding bids across all three tenors.
The auction was 1.4 times oversubscribed, drawing PHP36.8 billion in total tenders.
"Treasury bill average auction yields again went up for the 3rd straight week or since the war in (the) Middle East started," Rizal Commercial Banking Corporation chief economist Michael Ricafort said in a Viber message.
Ricafort said T-bill yields are expected to continue rising in the coming weeks due to the inflationary impact of the Middle East conflict. (PNA)
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