The Bureau of the Treasury (BTr) fully awarded bids for short-dated treasury bills at yesterday’s auction.
The 91-, 182-, and 364-day Treasury bills fetched average rates of 0.846 percent, 1.094 percent and 1.446 percent respectively—all lower than previous auction results.
The auction was almost five-times oversubscribed with total bids reaching P95.3. billion, prompting the Treasury to double the accepted non-competitive bids for the three-month and six-month securities to P4 billion each.
With its decision, the national government raised P24 billion, higher than the P20 billion initial offer.
National Treasurer Rosalia De Leon said liquidity remains strong. “Price pressures seen as temporary and will be alleviated with measures like price caps and food imports. The treasury has P20 billion maturity this week.