The Bureau of the Treasury awarded a total P17 billion worth of treasury bills at the auction Monday, P2 billion more than the offered amount as the auction committee took advantage of lower rates and strong demand.
Total bids reached P47.8 billion, 3.2 times more than the offered amount of P15 billion.
The National Treasury said this prompted the auction committee to double the accepted volume of non-competitive bids for the 364-day T-bills.
Yield on the 364-day bill eased further to 5.965 percent from last week’s 5.982 percent while that on the 182-day paper slipped to 5.865 percent from 5.880 percent.
The rate on the 91-day paper averaged 5.704 percent from the previous auction’s 5.710 percent.
