The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during the auction on Monday.
The 91-, 182-, and 364-day T-bills fetched average rates of 5.046 percent, 5.222 percent, and 5.376 percent, respectively – all lower than the previous auction rates and prevailing secondary market rates.
Last week, the average rate of the 91-, 182-, and 364-day T-bills settled at 5.173 percent, 5.323 percent, and 5.457 percent.
The auction was 6.3 times oversubscribed, attracting P156.4 billion in total tenders.
With its decision, the Auction Committee raised the full program of P25 billion for the auction.
“Treasury bill average auction yields were again mostly slightly lower for the 10th straight week, as a continuing effect of the widely expected 0.25 [basis points] BSP rate cut on August 28, 2025 and signals by Department of Finance Secretary Recto and BSP Governor Remolona on another BSP rate cut by the end of 2025 that led more investors to lock in yields before they go down further in the coming months,” Rizal Commercial Banking Corporation chief economist Michael Ricafort said.
BTR PHOTO