Philippine treasury bill rates mostly inched higher at Monday’s auction, even as investor demand remained robust, with total bids more than three times the amount on offer.
The Bureau of the Treasury (BTr) reported that total tenders for the P25 billion offering reached P87.5 billion, reflecting strong market interest despite the uptick in rates. This allowed the agency to raise the awarded amount for the 182-day tenor, bringing total accepted bids to P28.4 billion.
The average yield for the 91-day treasury bill held steady at 5.526 percent, while rates on the longer-dated papers rose slightly. The 182-day T-bill fetched an average rate of 5.618 percent, up from 5.607 percent in the previous week.
Meanwhile, the 364-day tenor saw its yield edge higher to 5.656 percent from last week’s 5.651 percent.
The results indicate that while liquidity remains ample, investors are seeking slightly higher returns amid ongoing uncertainties around inflation, interest rate trends, and global market movements.
Despite the modest rate increases, the strong demand provides the Treasury with flexibility in its borrowing program as it continues to fund government operations and manage public debt efficiently.
