NextGen Day

The Bureau of the Treasury’s (BTr) auction results showed that rates for Treasury notes (T-bills) fluctuated on Monday, with the 91-day down.

During the auction on November 14 last year, the three-month paper’s average rate dropped from 4.464 percent to 4.375 percent.

The 182-day paper’s rate increased to 4.921 percent, and the 364-day paper’s rate increased to 5.142 percent.

During the auction last week, they were at 4.838 percent for the six-month paper and 5.100 percent for the one-year T-bill.

The one-year paper was undersubscribed with bids totaling only PHP4.971 billion despite the fact that all tenors were offered PHP5 billion each.

The total amount of bids for the three-month paper was PHP17.371 billion, and for the six-month, it was PHP7.110 billion.

The auction committee fully granted the three-month paper, but only PHP3.25 billion and PHP2.3 billion for the 182-day and one-year debt instruments, respectively, were.

Prior to last week’s 75 basis point increase, which came after monetary authorities noted assessments for a persistently high inflation rate, National Treasurer Rosalia de Leon attributed the increase in government securities rates to expectations of future increases in the central bank’s key policy rates.

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