The Bureau of the Treasury (BTr) fully awarded bids for Treasury bills (T-bills) during Monday’s auction as yields continued to decline for the ninth consecutive week.
The 91-, 182-, and 364-day T-bills fetched average rates of 5.173%, 5.323%, and 5.457%, respectively — all lower than the previous auction levels and prevailing secondary market rates. Last week, yields settled at 5.195%, 5.398%, and 5.522%, respectively.
“Treasury bill average auction yields were again mostly slightly lower for the 9th straight week, after the widely expected -0.25 [basis points] BSP (Bangko Sentral ng Pilipinas) rate cut on August 28, 2025 that could further reduce borrowing costs for the government, businesses, consumers, and for the overall economy,” Rizal Commercial Banking Corporation chief economist Michael Ricafort said.
The auction was five times oversubscribed, attracting PHP125.5 billion in total tenders. With this, the Auction Committee was able to raise the full program of PHP25 billion.