The Bureau of the Treasury made a full award at Tuesday’s auction of short-dated notes.
Rates on three-month, six-month and one-year Treasury bills fetched average rates of 1.180 percent, 1.421 percent, and 1.788 percent, respectively.
The treasury said all yields were lower than secondary market benchmark rates, but higher compared with the previous week.
The auction was oversubscribed with total bids of P55.7 billion, more than 2.7 times the P20 billion offer. National Treasurer Rosalia de Leon said the rates increased due to the central bank’s decision to keep its policy rates steady as well as US Fed’s new framework on inflation target. But de Leon said the T-Bill rates remained low with good inshore liquidit.