The Bureau of the Treasury (BTr) partially awarded on Monday Treasury bills (T-bills) across-the-board due to rate upticks. It offered each tenor for PHP5 billion but only awarded PHP2.531 billion worth of 91-day paper, PHP3.7 billion for the 182-day T-bill and PHP4.405 billion for the one-year securities. This, after the rate of the three-month T-bill rose to 4.911 percent, the six-month's to 5.556 percent and the 364-day's to 5.864 percent. These were at 4.664 percent, 5.437 percent and 5.717 percent for the 91-day, 182-day and 364-day papers, respectively, during the auction last March 13. Total tenders for the three-month T-bill amounted to PHP4.041 billion while it reached PHP6.970 billion for the six-month paper and PHP6.795 billion for the one-year paper. 'Partial award to anchor rates within levels in secondary markets,' National Treasurer Rosalia de Leon told journalists in a Viber message. De Leon attributed the undersubscription to the government securities to investors' 'waiting for Fed (Federal Reserve) decisions and markets remain(ing) on the edge as banking turmoil unravels
Source: Philippines News Agency