Manila: The Bureau of the Treasury (BTr) fully awarded Treasury bills (T-bills) at slightly higher rates during Monday's auction. Results of the auction showed that the average rate of the 91-day T-bill rose to 4.311 percent from last week's 4.240 percent. Total tenders reached PHP27.6 billion, more than three times the PHP9-billion offering.

According to Philippines News Agency, the average rate of the 182-day paper also went up to 4.417 percent from 4.357 percent, with tenders reaching PHP30.5 billion. Total bids for the 364-day T-bill, meanwhile, reached PHP18.38 billion, while the average rate also rose to 4.564 percent from last week's 4.501 percent.

With the full award, the Committee raised the full program of PHP27 billion for the auction. "The Treasury bill average auction yields mostly corrected slightly higher, considered a healthy upward correction after mostly slightly lower for 7 straight weeks, ahead of the latest local inflation data on March 5, 2026 that could again normalize slightly higher from 2% in January 2026," Rizal Commercial Banking Corporation chief economist Michael Ricafort said.