T-bill rates up anew, BTr partially awards 1-year tenor

T-bill rates up anew, BTr partially awards 1-year tenor

MANILA – The average rate of Treasury bills (T-bills) rose across the board on Monday, sustaining its path on expectations of continued hikes in the central bank’s key rates following another acceleration in domestic inflation rate.

The average rate of the 91-day paper rose to 4.232 percent, the 182-day’s to 4.959 percent and the 364-day’s to 5.393 percent.

These were at 4.155 percent, 4.903 percent and 5.240 percent for the three-month, six-month and one-year securities during the auction last Jan. 3.

The Bureau of the Treasury (BTr) offered all tenors for PHP5 billion each and all posted oversubscription.

Bids for the 91-day T-bill reached PHP11.875 billion; the 182-day, PHP9.180 billion; and the one-year, PHP6.940 billion.

The auction committee fully awarded the shorter tenors but only awarded PHP4.750 billion for the one-year paper.

Upticks in T-bills’ average rate continues as investors continued to see additional hikes in the Bangko Sentral ng Pilipinas’ key policy rates following another jump in domestic inflation rate last December to 8 percent, the highest in the last 14 years. (PNA)

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