Philippines sells $268mn T-bills at higher yields

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:

Philippines cuts 2023 GDP growth target to 6.0-7.0%

• BTr awards total of 14.75 billion pesos ($267.55 million)worth of T-bills vs 15 billion pesos offer

• BTr awards 5 billion pesos of 91-day T-bills at 4.232% avg yield vs previous rate 4.155%

• BTr awards 5 billion pesos of 182-day T-bills at 4.959% avg yield vs previous rate 4.903%

• BTr awards 4.75 billion pesos of 364-day T-bills at 5.393% avg yield vs previous rate 5.240%