The Bureau of the Treasury (BTr) allowed Treasury bill (T-bill) yields to rise at the auction Tuesday, awarding the entire upsized offer at its first fund-raising effort for 2024.
Total tenders for the T-bill offering reached P39.97 billion, nearly three times the initial offer size of P15 billion for the three-, six- and 12-month bills.
The bid size allowed the auction committee to raise the offered amount to P17 billion, with P2 billion added to the 182-day paper.
Yield on the 91-day paper rose to 5.140 percent from 4.966 percent in early December. The BTr only held one treasury bill and one Treasury bond (T-bond) auction last month.
Average rate on the 182-day bill rose to 5.578 percent from 5.267 percent while the yield on the 364-day bill climbed to 5.829 percent from 5.732 percent.
The BTr plans to raise P75 billion through treasury bill sale in January and P120 billion from T-bond auctions for budget support. For the whole of 2024, the government is expected to borrow domestically via treasury auction a total P2.47 trillion.
