BTr fully awards treasury bills amid strong demand

The Bureau of the Treasury (BTr) successfully awarded all bids for Treasury bills (T-bills) during Monday’s auction, with slightly higher rates across the 91-, 182-, and 364-day securities.

The average rates for the T-bills were 5.647 percent for the 91-day, 5.882 percent for the 182-day, and 5.905 percent for the 364-day, all of which were higher compared to last week's rates of 5.631 percent, 5.862 percent, and 5.871 percent, respectively.

Economists, including Michael Ricafort from Rizal Commercial Banking Corporation, attributed the increase to concerns over rising inflation, driven by recent storms and a weaker peso exchange rate, which could escalate importation costs and fuel broader inflationary pressures.

The auction saw strong demand, with total tenders reaching PHP47.2 billion, 3.1 times oversubscribed.

The BTr raised the full PHP15 billion target for the auction, reflecting continued investor confidence despite the upward pressure on yields.