The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday even as rates inched up across all tenors.
Tenders for the short-term IOUs reached P56.36 billion, nearly four times the total offering for the 91-day, 182-day and 364-day securities.
The BTr awarded P15 billion as programmed.
Rosalia de Leon, national treasurer, in a Viber group with reporters agreed when asked if inflation expectations pushed rates up, saying “but not so much especially for the 182-day and 364-day.”
The central bank said last week the inflation rate for September could settle within the range of 4.8 percent to 5.6 percent.
The 91-day paper fetched a rate of 1.085 percent, 2.5 basis points (bps) higher than the previous average of 1.06 percent.
Tenders amounted to P13.01 billion, nearly three times the P5 billion that was fully awarded.
As for the 182-day IOUs, the recorded rate is 1.391 percent, posting a 0.6 bps increase from the 1.385 percent yield recorded in the previous auction for the same tenor.
Demand reached P22.418 billion, more than four times the P5 billion programmed which was fully awarded by the BTr.
Lastly, the rate for the one-year securities is 1.584 percent, 0.2 bps up from the previous average of 1.582 percent.
The tendered amount reached P20.925 billion, with the government awarding P5 billion as programmed. – Angela Celis
