The Bureau of the Treasury (BTr) said Monday it awarded P28.4 billion worth of Treasury bills (T-bills) at its auction Monday, exceeding its initial offer of P25 billion.
The auction was 4.1 times oversubscribed, with total tenders reaching P103.5 billion. This strong demand pushed T-bill rates down from the previous week’s results.
The 91-day T-bills saw P7 billion awarded, yielding an average of 5.388 percent annually.
Meanwhile, P11.9 billion was awarded for the 182-day T-bills, with an average yield of 5.543 percent.
The 364-day T-bills reached P9.5 billion, with its rate settling at 5.627 percent.
Total tenders for each tenor were P37.8 billion, P36.7 billion and P29 billion, respectively.
The BTr said the yields in this week’s auction were “all lower than previous auction and prevailing secondary market rates.”
