The Bureau of the Treasury (BTr) rejected bids for the treasury bills offered yesterday as rates rose across the board, beating the figures in the previous auction and in the secondary market.
The auction also attracted tenders of only P18.5 billion, slightly higher than the P15 billion offering.
Rosalia de Leon, national treasurer, opted not to comment on the auction results as she was not present in the auction.
During the previous treasury bills auction, however, which also saw rates increase under a full award, de Leon said rates rose following upward adjustment for inflation this year and increasing tension in Ukraine.
Had the BTr awarded the 91-day paper, the rate would have been 1.49 percent, 59.1 basis points (bps) higher than the previous rate.
As for the 182-day, the yield would have been 1.736 percent, 57.9 bps up versus the previous average of 1.157 percent.
Lastly, for the one-year paper, under a full award the rate would have been 1.865 percent, 29.7 bps up from the previous rate of 1.568 percent. – Angela Celis
