NextGen Day

Despite the rate increase, the Bureau of the Treasury (BTr) on Monday completely awarded the six-month and one-year Treasury bills (T-bills), but rejected all bids for the three-month paper due to a lack of demand.

The 182-day T-average bill’s rate increased slightly to 5.177 percent, and the 364-day T-to bill’s 5.577 percent.

The 91-day paper’s rate would have jumped to 4.864 percent from 4.413 percent during the sale last February 20 if the bidding committee had awarded it.

In the T-bill auction last week, the rates for the six-month and one-year papers were 5.060 percent and 5.455 percent, respectively.

The BTr offered all tenors for PHP5 billion apiece, and tenders for the 91-day, 182-day, and 364-day tenors were PHP4.12 billion, PHP9.46 billion, and PHP9.07 billion, respectively.

The increase in the major policy rates set by the Bangko Sentral ng Philippines (BSP), which was implemented to help combat the country’s rising inflation rate, has been linked to the rate increases of government securities, according to National Treasurer Rosalia de Leon.

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