BTr rejects seven-year T-bond bids due to high yields

On Tuesday, the Bureau of Treasury rejected all bids for seven-year T-bonds due to high yield demands.

Investors had bid rates as high as 5.2 percent, compared to the original rate of 3.75 percent in August.

National Treasurer Rosalia de Leon stated that these rates were unreasonably high given expectations of a downward trend in inflation.

The Philippine Statistics Authority will release December's inflation report on Wednesday, which may calm market concerns.