Manila, March 3 -- The government raised PHP22 billion from the Treasury bills (T-bills) auction on Monday.

"The auction was almost 4x oversubscribed, attracting PHP85.5 billion in total tenders," the Bureau of the Treasury (BTr) said.

Total tenders for the 91-day T-bills reached PHP37.48 billion with yield settling at 5.283 percent.

The BTr accepted PHP7 billion from the total tender.

For the 182-day T-bills, the Auction Committee accepted PHP7 billion from the PHP24.51 billion total tenders.

Yield, meanwhile, was at 5.610 percent.

The BTr raised PHP8 billion from the 364-day paper, with the average yield settling at 5.770 percent.

"Treasury bill average auction yields were mostly slightly lower, ahead of the latest local inflatio...