Average rates of Treasury bills (T-bills) were either steady or lower at the auction Monday, with strong demand and benign inflation expectation easing yields on longer-dated T-bills.
Total bids reached P80.3 billion, more than triple the offered amount of P25 billion that was awarded in full during the auction.
The strong demand for T-bills comes after the government raised last week P300 billion from the sale of 10-year benchmark fixed-rate Treasury bonds.
Yield on the 91-day T-bill was unchanged at 5.546 percent. Meanwhile, the 182-day T-bills saw rates ease to 5.655 percent from 5.675 percent while the 364-day bill slipped to 5.688 percent.
