Manila: Results were mixed during Monday's Treasury bills (T-bills) auction as the Bureau of the Treasury (BTr) partially awarded bids for the 91- and 182-day T-bills while fully awarding the 364-day T-bill.

According to Philippines News Agency, total bids for the 91-day T-bills reached PHP18.23 billion. The BTr accepted PHP14.76 billion, lower than the PHP20-billion initial offer, with the yield settling at 5.214 percent.

The 182-day T-bills attracted a total of PHP25.03 billion bids, with the BTr awarding PHP13.92 billion. This amount was also lower than the PHP15-billion initial offer, and the average yield was at 5.622 percent.

Meanwhile, the 364-day T-bills attracted total tenders amounting to PHP16.76 billion at an average rate of 5.807 percent. The BTr upsized the award to PHP10 billion.

Rizal Commercial Banking Corporation chief economist Michael Ricafort noted that T-bill average auction yields went up amid the continuing effects of the latest 0.25 basis points Bangko Sentral ng Pilipinas rate hike. Last week, the average rate of the 91-, 182-, and 364-day T-bills settled at 5.138 percent, 5.517 percent, and 5.717 percent, respectively.