The Bureau of the Treasury fully awarded bids for short-term treasury bills at yesterday’s auction.
The 91-, 182, and 364-day Treasury bills fetched average yields of 1.116 percent, 1.600 percent and 1.800 percent, respectively - all lower than previous auction levels.
The auction was nearly five-times oversubscribed with total bids reaching P98.9 billion, prompting the the Treasury to double the size for the three-month securities to P4 billion. With the upsized 91-day offering, the national government successfully raised a total of P22 billion, exceeding the P20 billion initial program.