The Bureau of the Treasury will begin its P2.547 trillion borrowing program for 2025 on Monday, aimed at supporting the national budget, with the auction of P22 billion worth of treasury bills.
At this auction, the National Treasury will offer P7 billion each of 91-day and 182-day treasury bills, and P8 billion in 364-day paper.
In the previous auction held in 2024, the three-month treasury bill fetched a yield of 5.818 percent, while the six-month paper settled at 5.975 percent. The yield on the one-year bill was slightly higher at 5.977 percent.
In the secondary market on January 2, 2025, the 3-month treasury bill was quoted at 5.851 percent, the 6-month bill at 5.987 percent, and the one-year debt at 6.142 percent.
The volume offered in Monday’s auction is part of the government’s plan to raise P264 billion through treasury bill auctions in the first quarter of 2025. In addition, the government aims to raise P365 billion through treasury bonds with maturities ranging from 3 to 25 years.
Out of the total P2.547 trillion the government plans to borrow this year, P2.04 trillion is expected to be sourced from the domestic debt market.
