Treasury bill rates rise on Monday

Local Treasury bill (T-bill) rates rose Monday in line with the path of US Treasuries.

The average rate of the 91-day T-bill increased to 1.139 percent, the 182-day to 1.316 percent, and the 364-day to 1.852 percent.

These were at 1.040 percent, 1.226 percent, and 1.680 percent for the three and six-month, and one-year papers during the auction last March 1.

All tenors were over-subscribed and fully awarded.

The Bureau of the Treasury (BTr) offered a 91-day paper for PHP5 billion and bids reached P14.467 billion.

Tenders for the mid-tenor paper reached P10.915 billion, more than double the P5-billion offer.

Bids for the one-year paper amounted to P18.62 billion, nearly twice the P10-billion offer.

“(The increase in rates was due to) hang-over from elevated inflation with rates moving alongside uptrend of US Treasuries,” National Treasurer Rosalia de Leon told journalists in a Viber message.