MANILA, Philippines – Rates for the bellwether 91-day Treasury bills (T-bills) went down by 17.5 basis points to 3.400 percent from 3.575 percent previously.
The 182-day T-bill, meanwhile, fetched an average rate of 3.941 percent, a slight uptick of 0.6 basis points from 3.935 percent previously.
The government sold P5.78 billion in Treasury bills during yesterday’s auction after the Bureau of the Treasury decided to do a partial award for the 364-day T-bill.
Deputy Treasurer Eduardo Mendiola said the auction panel had to temper the increase in the rate of the one-year paper.
The auction panel allowed the average rate of the 364-day T-bill to rise to 4.165 percent from 4.134 percent previously.
It accepted total bids of P2.280 billion out of total tenders of P6.4 billion.
“What we wanted was to temper the rates,” said Mendiola when asked why there was a partial rejection in the bids for the 364-day paper.
Mendiola believes that the market is correcting itself on the back of declining interest rates. “As far as I know, the market is correcting itself,” he said.
He does not believe that market investors are still concerned about the government’s budget deficit, saying that this has been priced in already.
As of end-September, the budget deficit has widened to P259.8 billion or 9.4 percent above the P237.5 billion recorded a year earlier.
Yesterday’s T-bill auction is part of the government’s program to borrow P75 billion from the local debt market in the fourth quarter of the year. The amount is lower than the third quarter borrowing program of P107.5 billion, according to the latest data from the Bureau of the Treasury (BTr).
Of the amount, the government plans to issue P35 billion worth of Treasury bills, P13 billion lower than the previous quarter’s P48 billion T-bill offering.
The Treasury, meanwhile, plans to sell P40 billion worth of Treasury bonds, also lower than the P59.5 billion programmed T-bond offering last quarter. –Iris C. Gonzales (The Philippine Star)
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
