The government on Monday raised P22 billion from its Treasury bill auction, according to the Bureau of the Treasury (BTr).
The auction was nearly four times oversubscribed, attracting P85.5 billion in total bids, the BTr said.
It said that for the 91-day debt papers, total bids reached P37.48 billion, with the average yield settling at 5.283 percent. The bureau accepted P7 billion.
The auction committee accepted P7 billion for the 182-day T-bills, from total bids of P24.51 billion, with average yield of 5.610 percent.
It also raised P8 billion from the 364-day paper auction, with the average yield settling at 5.770 percent.
The average yield for the 91-day, 182-day and 364-day T-bills settled at 5.329 percent, 5.672 per4cent and 5.754 percent, respectively, last week.