TOTAL BIDS reach P67.488 billion, more than thrice the offering. — BW FILE PHOTO
THE government fully awarded Treasury bills (T-bills) on Monday amid lower demands while yields moved sideways ahead of expected beyond-target inflation.
The Bureau of the Treasury awarded P25 billion in T-bills on Monday as programmed. Total bids reached P67.488 billion, more than thrice the offering but lower than the P79.33 billion in demand a week earlier.
It also opened its tap facility to offer P5 billion in one-year T-bills, National Treasurer Rosalia V. de Leon told reporters in a Viber message.
Broken down, tenders for the three-month papers reached P12.65 billion, beyond the P5-billion program but failing to beat the P22.537 billion in bids last week. The average rate for the 91-day debt papers increased by 2.6 basis points (bps) to 1.295% from 1.269% on March 29.