Government partially awards T-bills at auction

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The government decided to partially award the Treasury bills (T-bills) it placed on the auction block on Monday, July 9, with yields climbing in the longer tenors as investors priced in the faster-than-expected inflation print.

The Bureau of the Treasury borrowed only P13.399 billion during the T-bills auction, falling short of the P15 billion it intended to borrow.

Total tenders reached P29.99 billion during the auction, climbing from the P26.5 billion tallied during the previous offer. — Karl Angelo N. Vidal