T-bill rates rise across the board

Investors in short-dated government securities flocked Monday’s treasury bills auction amid easing inflation worries such that the Bureau of the Treasury sold all P15 billion it offered despite yields rising across the board.

The Treasury awarded P4 billion in the benchmark 91-day debt paper at an average rate of 5.295 percent, up from 5.172 percent during last week’s auction.

It also issued P5 billion in 182-day IOUs at 6.28 percent, up from 6.245 percent previously.

Also, P6 billion in 364-day bills were sold at 6.53 percent, the annual rate inching up from 6.521 percent last week.

In all, investors tendered P30.3 billion across the three tenors.

“Investors are already locking in because after the 25-basis point hike by the Monetary Board, inflationary expectations were more or less anchored,” National Treasurer Rosalia de Leon told reporters after the auction. —BEN O. DE VERA