Manila: The Bureau of the Treasury (BTr) raised PHP25 billion from the Treasury bills (T-bills) auction on Monday, surpassing the PHP22 billion initial offer.

According to Philippines News Agency, the auction was 4.5 times oversubscribed, with total bids reaching PHP99.1 billion. This prompted the Auction Committee to double the accepted non-competitive bids for the 364-day T-bills to PHP6 billion. Total tenders for the 91-day T-bills reached PHP30.6 billion, with the Auction Committee accepting PHP7 billion, resulting in a yield settling at 4.874 percent.

For the 182-day T-bills, total tenders reached PHP37.3 billion, and the Auction Committee accepted PHP7.5 billion. The average yield for this debt paper was recorded at 5.026 percent. The BTr noted that the total tender for the 364-day T-bills reached PHP31.3 billion, with the Auction Committee accepting PHP10.5 billion, up from the PHP7.5 billion initial offer, with the yield at 5.099 percent.

Michael Ricafort, chief economist at Rizal Commercial Banking Corporation, commented that the Treasury bill average auction yields corrected slightly higher after being slightly lower for most weeks over the past four months. This adjustment comes ahead of the latest local inflation data on November 5, 2025, which is expected to be slightly higher compared to the previous 1.7% in September 2025.