Rates for short-dated debt instruments rose anew at Monday’s (March 22) auction, due to lingering concerns on higher inflation.
The national government accepted the bids for the 91-day Treasury bills (T-bills) at 1.336 percent, higher compared with 1.232 percent last week. Yield for the 182-day T-bills also jumped from 1.527 percent to 1.718 percent, while the 364 T-bill rate slightly increased to 1.997 percent from 1.990 percent.
National Treasurer Rosalia de Leon said interest rates continue to creep with lingering concerns on accelerating inflation.
The Bureau of the Treasury’s auction was more the three-times oversubscribed with total tenders reaching P64 billion.
On Monday, the national government was able to raise the full program of P20 billion short-term borrowing for this week. The Treasury also opted to open its tap facility to accommodate additional P5 billion offers of one-year notes.