Philippines rejects all bids for T-bills amid weak demand

The Philippines’ Bureau of the Treasury rejected all bids for T-bills at an auction on Monday amid weak demand.

Tenders totalled 7.576 billion pesos ($150.6 million) against the government’s offer of 20 billion pesos worth of 91-day, 182-day and 364-day T-bills, the bureau said.

It also rejected all bids at the Nov. 27 T-bill auction, while raising 255.4 billion pesos from its latest retail treasury bond offering. For previous auction results, click on ($1 = 50.3000 Philippine pesos)