Yields on Treasury bills (T-bills) were higher at the auction held Monday, with the Bureau of Treasury allowing the average rate of the 91-day treasury paper to top 6.00 percent.
The market continues to anticipate further monetary policy tightening by the Bangko Sentral ng Pilipinas amid higher inflation.
The Bureau of the Treasury awarded in full the P5 billion each offered at the auction for the 91-day and 364-day T-bills. The treasury didn’t award the entire P5 billion offered for 182-day bills to temper the yield rise.
Yield on the 91- and 364-day T-bills fetched an average rate of 6.149 percent and 6.479 percent, respectively, up from last week’s auction result of 5.990 percent for the three-month paper and 6.388 percent for one-year debt.
The average rate of the 182-day tenor was capped at 6.330 percent as the treasury only accepted P4.26 billion in bids for the P5 billion offer.
Total tenders reached P23.4 billion for the entire P15 billion offering. Total accepted bids reached P14.3 billion.
