The Bureau of the Treasury (BTr) raised P28.4 billion from Monday’s Treasury bills (T-bills) auction, higher than the P25 billion on offer amid lower cut-off yields.
The auction was 4.1 times oversubscribed, with investors pouring in P102.9 billion in total tenders. With this much demand, the BTr increased the accepted non-competitive bids for the 182-day tenor to P6.8 billion.
The BTr’s auction committee fully awarded bids for the 91-, 182-, and 364-day T-bills.
The 91-, 182-, and 364-day T-bills attracted lower rates this week compared with the previous auction.
The average rate for the 91-day fell to 5.475 percent from 5.526 percent previously; the 182-day slipped to 5.575 percent from 5.618 percent; and the 364-day tenor, 5.650 percent from 5.656 percent.
