MANILA -The average rates on Treasury bills rose across the board as investors sought to bring yields upward along a similar path as US government securities.
The cost for the government of borrowing through the benchmark 91-day Treasury bills increased by 37.4 basis points (bps) to 5.598 percent from 5.224 percent last week.
Also, the average yield on the 182-day T-bills increased by 20.1 bps to an average of 5.99 percent from 5.879 percent.
Further, the average rate on the 364-day T-bills increased by 8.4 bps to 6.294 percent from 6.21 percent.
“The auction was 2.5 times oversubscribed, with total tenders reaching P38.1 billion,” the Bureau of the Treasury (BTr) said in a statement.
Still, the auction committee led by the BTr opted for partial awards for the 91-day and 182-day T-bills.
“With its decision, the Committee raised P11.75 billion of the P15 billion offering,” the BTr added. INQ