Inquirer
T-bill rates mixed amid spike in US Treasury yields
The Bureau of the Treasury (BTr) successfully awarded all its offered Treasury bills (T-bills), accepting PHP25 billion in total.
The auction attracted PHP78.4 billion in bids, exceeding the original issuance size by 3.1 times, indicating strong investor interest.
Average rates for the 91-day and 182-day T-bills decreased to 5.515 percent and 5.612 percent, respectively.
However, the average rate for the 364-day T-bill increased to 5.702 percent.
This mixed rate movement is attributed to an upswing in US Treasury yields, triggered by Moody's downgrade of the US sovereign credit rating.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., noted that the 364-day T-bill rate corrected slightly higher due to the downgrade and subsequent rise in US Treasury yields.
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