MACROECONOMICS - MANILA. The Philippines' Bureau of the Treasury rejected all bids for T-bills at an auction on Monday as rates came in higher than expected.
The 91-day paper attracted total tenders of 13.328 billion pesos ($257 million) against the government's offer of 9 billion pesos.
However, the 182-day and 364-day papers were undersubscribed with tenders of 3.81 billion pesos and 4.19 billion pesos, below the offers of 6 billion pesos and 5 billion pesos, respectively.
Editor: Barratut Taqiyyah Rafie
