The government decided to fully award the Treasury bills (T-bills) it offered on Monday, July 30, with rates climbing across the board, as investors expect another monetary policy tightening from the local and US central banks.
The Bureau of the Treasury (BTr) borrowed P15 billion as planned at its T-bills auction.
Total bids totalled P35.8 billion, up from the P32.9 billion recorded at last week’s offering.
Broken down, the government borrowed P4 billion as planned via the 91-day tenor as tenders by investors amounted to P9.585 billion. The average rate rose 4.2 basis points to 3.261% from the 3.219% logged in the previous auction. — Karl Angelo N. Vidal

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