The government made a full award of the Treasury bills (T-bill) it auctioned off on Monday as rates on the longer tenors slipped.
The Bureau of the Treasury (BTr) borrowed P15 billion as planned at its T-bills auction on Monday.
Total tenders amounted to P46.4 billion, climbing from the P35.8 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 P11.355 billion. The average rate rose 2.9 basis points to 3.29% from the 3.261% logged in the previous auction.
The Treasury also made a full award of the 182-day papers as it raised P5 billion out of the total offers totaling P17.316 billion. However, the average yield declined 10.8 basis points to 4.186% from last week’s 4.294%.
For the 364-day T-bills, the BTr borrowed P6 billion out of the P17.712 billion offered by banks and other financial institutions. The average rate likewise slid a tad by 0.1 basis point to 4.899% from the 4.9% tallied in the previous offering.
At the secondary market prior to the auction, three-month and six-month papers were quoted at 3.6594% and 4.2217%, respectively, while one-year securities fetched a 4.8241% yield. — Karl Angelo N. Vidal