Treasury bill yields were lower at the auction Monday compared to prevailing secondary market rates, the Bureau of the Treasury said.
Average rates, however, were mixed compared to last week, with the interest rate on 91-day T-bills down to 5.630 percent from 5.647 percent while that on the 182- and 364-day papers were higher.
Yield on the six-month paper was up at 5.905 percent from 5.882 percent while that on the one-year T-bill rose to 5.937 percent from 5.905 percent.
Total bids reached P57.8 billion, 3.9 times the offered amount of P15 billion, which was awarded in full.
T-bill yields are expected to rise on expectation that inflation will rise in November. The Bangko Sentral ng Pilipinas has projected inflation moving within the 2.2 percent to 3.0 percent range in November after settling at 2.3 percent October.
