EXPECTATIONS FOR HIKE. The Bureau of the Treasury (BTr) rejects all bids for the Treasury bills (T-bills) on Monday (May 16, 2022) after investors asked for high rates. National Treasurer Rosalia de Leon attributed this development to expectations for a hike in the Bangko Sentral ng Pilipinas' (BSP) key rates on Thursday. (File photo) MANILA - Bids for Treasury bills (T-bills) were rejected across the board on Monday after investors asked for a high yield ahead of the policy meeting of the Bangko Sentral ng Pilipinas' (BSP) Monetary Board (MB). Had the auction committee awarded the debt papers, the average rate of the 91-day T-bill would have risen to 1.759 percent, the 182-day to 2.215 percent, and the 364-day to 2.828 percent. These were at 1.531 percent, 2.165 percent, and 2.329 percent for the three-month, six-month, and one-year papers during the auction last May 10. BTr offered all tenors for PHP5 billion, and most were oversubscribed. Total tenders for the 91-day T-bill