BTr awards Treasury bills 

The Bureau of the Treasury (BTr) on Monday fully awarded bids for Treasury bills (T-bills), according to a report by Philippine News Agency.

The 91-, 182-, and 364-day T-bills fetched average rates of 5.828 percent, 6.062 percent, and 6.074 percent, respectively.

The comparative Philippine Peso Bloomberg Valuation Service (PHP BVAL) rate was at 5.787 percent for the three-month tenor, 6.064 percent for the six-month tenor, and 6.163 percent for the one-year tenor.

"Most of the Treasury bill average auction yields were again slightly higher week-on-week, similar to the slight week-on-week rise in the comparable short-term PHP BVAL yields, a day before the latest inflation data that is expected pick up largely to the effects of typhoon Carina," Rizal Commercial Banking Corporation chief economist Michael Ricafort said.

The auction was 2.4 times oversubscribed, attracting PHP47.3 billion in total tenders.

The BTr raised the full program of PHP20 billion for the auction.