The government raised P22 billion from the Treasury bills (T-bills) auction on Monday.

"The auction was almost 4 times oversubscribed, attracting P85.5 billion in total tenders," the Bureau of the Treasury (BTr) said.

Total tenders for the 91-day T-bills reached P37.48 billion with yield settling at 5.283 percent.

The BTr accepted P7 billion from the total tender.

For the 182-day T-bills, the Auction Committee accepted P7 billion from the P24.51 billion total tenders.

Yield, meanwhile, was at 5.610 percent.

The BTr raised P8 billion from the 364-day paper, with the average yield settling at 5.770 percent.

"Treasury bill average auction yields were mostly slightly lower, ahead of the latest local inflation data that is expected to ease from 2.9% in January 2025," Rizal Commercial Banking Corporation chief economist Michael Ricafort said.

Last week, the average yield of the 91-day, 182-day, and 364-day T-bills settled at 5.329 percent, 5.672 percent, and 5.754 percent. 

PNA PHOTO