THE Bureau of the Treasury (BTr) has raised P28.6 billion for the National Government on Monday’s auction after awarding the Treasury bills (T-bills) in full.
The Auction Committee fully awarded the 91-, 182-, and 364-day T-bills after the debt papers were 3.9 times oversubscribed, with total tenders amounting to P98.3 billion.
“The 91-, 182-, and 364-day T-bills fetched average rates of 5.451 percent, 5.524 percent, and 5.656 percent, respectively,” the BTr said.
Yields for T-bills offering on Monday’s auction were lower than last week’s average rates for all tenors.
“Treasury bill average auction yields again slightly eased after the further improvement of the latest inflation at a new 5.5-year low of 1.3 percent in May 2025,” Rizal Commercial Banking Corp. chief economist Michael Ricafort said.
He added that the further easing of the inflation rate could support possible rate cuts by the Monetary Board of another 25 basis points in the next rate-setting meeting on June 19.
“Some investors are positioning relatively higher T-bill yield before Bangko Sentral ng Pilipinas and T-bill yields go down further,” Ricafort said. / PNA